3 Fintech Stocks to Buy While They're Down
Technology stocks have been put through the wringer by the market as of late. Dread over future interest rate hikes and uncertainty about Russia and Ukraine have spurred investors to exit positions in growth stocks and resort to safer assets. Consequently, several companies have seen their market values destroyed in the past six months. For many, all gains made during the pandemic have been wiped away.
The financial technology (fintech) industry, which refers to the blend of technology and finance, has been particularly hard hit recently. Prudent investors should interpret the negative sentiment as a buying opportunity given that the market is expanding at a red-hot pace. The global fintech industry is set to grow at a compound annual growth rate (CAGR) of 20% through 2030, up to $700 billion. With that in mind, let's examine three fintech stocks that investors should consider adding to their long-term portfolios today.
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Source Fool.com
