We’re close to peak pessimism around fintech

PayPal’s shares are off around 11% this morning despite the company reporting better-than-expected revenue and profit in the first quarter. The company also raised its forecast for the year, though that was apparently not enough to sate investors.
But frankly, it isn’t shocking to see another well-known fintech company losing value in today’s market. Indeed, fintechs haven’t fared well at all even when you account for the broader dip in valuations at tech companies.
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