The TV host attributed fintech-sector buying to amateur investors placing bets on companies like Square and PayPal, which were up close to 3% as the banks languished. He added that Wall Street has shied away from banks stocks as the “sector has been pushed to the limit, given the precarious state of the global economy, and lagged the market all year,” according the article.
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Fintechs Rally as Bank Stocks Flounder: Jim Cramer
Financial analyst Jim Cramer said fintech stocks are benefitting from dips in banks like Citigroup and JPMorgan. So reports CNBC.
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