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This week’s winners among financial stocks were a cryptocurrency miner, an insurer, an asset manager and two banks. On the other hand, a cryptocurrency exchange, an investment bank, a trading app and two regional banks led the biggest losers.
Overall, financial stocks posted gains in the week ending April 19, with the SPDR Financial Select Sector ETF (NYSEARCA:XLF) adrift up 0.8%outperforming the S&P 500 index 3.1% slide..
CleanSpark Bitcoin Miner (BTC-USD) (NASDAQ:CLSK) grew more than any other financial stock (with a market cap exceeding $2 billion), up 15.8%even though the price of bitcoin collapsed before the halving event;
Global Life (NYSE:GL), a life and health insurer, earned 13%;
Asset manager Victory Capital Holdings (NASDAQ:VCTR), which announced a partnership with Amundi during the week, led up by 10.5%;
Bancfirst Corp. (NASDAQ:BANF) advanced 7.9% on the heels of better-than-expected first-quarter earnings; AND
Wells Fargo (NYSE:WFC), which entered into a deal during the week to use TradeSun’s trade finance and digitalization technology to streamline complex, manual processes used in the banking system, rounded out the top five gainers with a Increase of 6.9%..
For the naysayers, cryptocurrency exchange Coinbase Global (NASDAQ: MONEY) also the protagonist, down 14.1%;
Brazilian investment bank XP (NASDAQ:XP) took the second slot, sliding by 10%;
Robinhood Markets (NASDAQ:HOOD), a popular retail trading platform, had remained unsolved down 7.5%;
Intercorp Financial Services, a credit institution based in Peru (NYSE:IFS) retreated by 7.3%; AND
Brazilian digital bank Nu Holdings (NYSE: NOW) warehouse 7.2%.