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This week’s winners among financial stocks featured one crypto miner, one insurer, one asset manager, and two banks. On the other hand, one crypto exchange, one investment bank, one trading app, and two regional banks led the biggest losers.
Overall, financial stocks eked out gains for week ended April 19, with the Financial Select Sector SPDR ETF (NYSEARCA:XLF) drifting up 0.8%, outpacing the S&P 500’s 3.1% slide.
Bitcoin (BTC-USD) miner CleanSpark (NASDAQ:CLSK) rose the most of any financial stock (with market cap over $2B), climbing 15.8%, even as bitcoin’s price fell ahead of the halving event;
Global Life (NYSE:GL), a life and health insurer, gained 13%;
Asset manager Victory Capital Holdings (NASDAQ:VCTR), which during the week announced a partnership with Amundi, drove up 10.5%;
Bancfirst Corp. (NASDAQ:BANF) advanced 7.9% on the back of better-than-expected Q1 earnings; and
Wells Fargo (NYSE:WFC), which during the week entered an agreement to use TradeSun’s trade finance and digitization technology to streamline complex and manual processes used in the banking system, rounded out the five biggest gainers with a 6.9% rise.
For the decliners, crypto exchange Coinbase Global (NASDAQ:COIN) too the lead, slumping 14.1%;
Brazilian investment bank XP (NASDAQ:XP) took the second slot, sliding 10%;
Robinhood Markets (NASDAQ:HOOD), a popular retail trading platform, gapped down 7.5%;
Peru-based lender Intercorp Financial Services (NYSE:IFS) retreated 7.3%; and
Brazilian digital bank Nu Holdings (NYSE:NU) shed 7.2%.
More on BancFirst, CleanSpark, etc.
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