2 FinTech stocks to watch in this volatile market
Today’s video focuses on Sofi (NASDAQ: SOFI) and Square (NYSE: SQ). Both companies’ stock prices have fallen more than 20% from the 52-week highs. Market volatility could provide investors with opportunities to average dollar costs. Here are some highlights from the video.
- On November 17, Square announced the Square Photo Studio app, allowing online sellers to take professional-style photos of their products. The app is available to everyone for free, but it recommends many Square solutions after taking the shot. By making the app accessible to everyone, it can push new customers to Square’s e-commerce solution.
- Square announced two more products with the Square Photo Studio app. First, it launched multiple subscription tiers for Tidal, its music streaming platform. Subscription levels even included the first free version and more incentives for artists to bring their content to Tidal. Second, she announced new marketing tools just before the holidays to her clients in Canada.
- Apart from the effects of the volatile market, Sofi’s share price was also affected by the sale of many major shareholders. On November 15, Sofi announced that some major shareholders would sell 50 million shares on the open market.
Click on the video below for my full thoughts and analysis.
* The stock prices used were the midday prices of November 24, 2021. The video was published on November 24, 2021.
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