Klarna shares draw top investor interest at Wolfe amid fintech positioning shift
Investing.com - Klarna (KLAR) led investor interest among fintech and payments stocks covered by Wolfe Research over the past week, according to a positioning report released Wednesday. Mastercard (NYSE: MA), Global Payments (NYSE: GPN), XYZ, and Adyen (ADYEN-NL) rounded out the top five names drawing inbound inquiries.
The ranking shifted from the prior week when Fiserv (NYSE: FISV), Global Payments, XYZ, Toast (NYSE: TOST), and Remitly (NASDAQ: RELY) attracted the most attention. Wolfe said sentiment and positioning across its coverage universe remained unchanged from the previous week.
The median year-to-date performance across Wolfe's coverage stood at negative 9% versus the S&P 500's 12% gain. The median weekly performance was flat, matching the S&P 500, S&P Equal-Weight Index, Nasdaq, and Financials Index.
Four Shares (FOUR) rose 14% during the week, leading gainers, while Adyen climbed 13% and Remitly gained 8%. Klarna shares fell 21%, making it the week's worst performer, followed by Pics (PICS) down 6% and Paymentus (NYSE: PAY) down 6%.
Stocks with relative strength index below 30, indicating potential oversold conditions, included Euronet Worldwide (NASDAQ: EEFT), Marqeta (NASDAQ: MQ), Paysafe (NYSE: PSFE), and Fidelity National Information Services (NYSE: FIS). Adyen, Chyme (CHYM), Kaspi (KSPI), and Synchrony Financial (NYSE: SYF) showed RSI above 70, suggesting potential overbought conditions.
