Fintech Sector Bottoms Out As Valuations Drop From 2020-21 Highs: Leaders Underscore Shift From 'Crazy Ideas' And Excessive Funding
Portfolio Pulse from Benzinga Neuro
The fintech sector has reached a low point in valuations after a significant correction from the highs of 2020-21. Industry leaders at the Money20/20 event in Amsterdam believe the market has recalibrated, now valuing businesses with strong use cases and business models. Despite challenges, there is renewed interest in cryptocurrencies and potential for industry consolidation.
June 13, 2024 | 11:16 am
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Trustly, backed by BlackRock Inc., reported a 51% increase in operating profit for 2023, but an IPO is at least two years away.
Trustly's significant profit increase is a positive indicator for BlackRock's investment. However, the delay in IPO suggests a cautious approach, impacting short-term stock price positively but moderately.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Renewed interest in Bitcoin and cryptocurrencies was noted at the Money20/20 event, indicating a shift towards real use cases.
The renewed interest in Bitcoin and cryptocurrencies suggests a potential positive impact on their valuations, driven by a shift towards practical use cases.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Visa Inc. has launched new technology to enhance its position in the e-commerce marketplace by sharing detailed customer preference information with retailers.
Visa's new technology aims to strengthen its e-commerce position, likely boosting its stock price in the short term due to enhanced service offerings and potential revenue growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80