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Is Now The Time To Buy Fintech Stocks?

Do You Have These Fintech Stocks On Your Watchlist?

The coronavirus pandemic has seen fintech transactions taking precedence over cash purchases amid lockdown. For this reason, investors are starting to look for fintech stocks to buy right now. There has been a significant rise in digital payments as people purchase essential goods and other services online. While the fintech space has fully penetrated China, physical cash is still the main medium of exchange globally, until the pandemic. 

Are Chinese Fintech Stocks Worth The Bet?

When you are looking for fintech stocks to buy, look no further than China. The country has been the first in the world to fully transform into digital payments. That was possible due to the low credit card penetration in the country, enabling them to leapfrog the rest of the world.  For some of you who have never crossed the Pacific, fintech is a huge area with massive opportunities to look at. Did you know that out of the world’s top fintech companies, 34 out of 100 came from Asia? In that region, China came out top with 10 companies.

Admittedly, recent events like the Luckin Coffee (LK Stock Report) scandal gave a negative impression of Chinese companies listed in the US. Now, there are no sure bets in the stock markets. But what we can do is to lay out a strategy that we find comfortable with. In any case, we believe the majority of companies really want to make it big here in the US. Given the sharp increase in the use of fintech amid the coronavirus pandemic, are these fintech stocks on your watchlist?

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Top Fintech Stocks To Watch Before Friday: JiaYin Group

The Chinese fintech firm Jiayin Group (JFIN Stock Report) is on fire. Shares of JFIN rose more than 700% on what appeared to be a pure momentum move. Although the spike was short-lived, JFIN stock still managed to close almost 100% higher on Wednesday. JFIN stock is suddenly a favorite on the RobinHood platform and has seen more traders jumping on board. With the unemployment rate soaring and business closures on the rise, taking loans online seems like a good idea. And that’s where Jiayin comes into the picture.

The company is announcing the first-quarter results today. For the past month, shares of Jiayin were relatively flat until Monday. Perhaps investors saw a Chinese company FangDD (DUO Stock Report) stock quadrupled the other day. If so, it may be no surprise they were looking for the next Chinese stocks to have a breakout. The baton was passed to Jiayin, who got on board and skyrocketed 700% in a day. The reason for that spike could simply be due to both JFIN and DUO stock reporting their Q1 results this week. DUO report was out yesterday and JFIN is due to report their fiscal report before the opening bell this morning. Is the share price movement of JFIN stock telling us something?

Top Fintech Stocks To Watch Before Friday: OneConnect Financial Technology

Next up, OneConnect Financial Technology (OCFT Stock Report) is a leading technology-as-a-service platform for financial institutions in China. The company serves all of China’s major banks and has some impressive numbers to match its dominance in the technology of finance. From their latest quarter, OneConnect reported $81.77 million in revenue, up 29.6% year-over-year.

In the past two years, OneConnect has turned its attention toward Southeast Asia as the region’s financial sector picks up the pace in digital transformation. The region alone could eventually make up 10% of the company’s total revenue. OneConnect’s digital solutions might be exactly what many countries need during this crisis, and this could be a significant revenue stream if done right. The OCFT stock has been climbing steadily year to date and last traded at $15.39 as of yesterday’s close.

[Read More] Should You Add These 5G Stocks To Your Watchlist?

Top Fintech Stocks To Watch Before Friday: Wins Finance Holdings

Wins Finance Holdings (WINS Stock Report) was one of the leading gainers, with their shares nearly tripling amid the surge in Chinese fintech stocks. If you are an early investor in WINS stock, you would have made 2,600% in returns (if you have cashed out your position) in 2017 when WINS stock traded at $337 per share. Since the all-time high in 2017, the stock price hasn’t been kind to investors.

If you are a new investor, the timing couldn’t be any better for you to take a closer look at this stock. Amid the current economic climate, the US anticipates rates to remain near zero until 2022. If you are an investor looking to gain exposure to financial stocks, you may be aware that low interest rates affect the profitability of financial companies. As such, it may be time to look for companies operating in a higher interest rate environment. And WINS is one of them. With that being said, can we expect WINS stock to continue its rally this month?

By Amos C

Amos is the global markets correspondent for His boots on the ground insight into emerging markets has given him the unique ability to stay ahead of new market trends and deliver timely data when it matters most. Based in Asia, Amos has made a point to monitor the foreign markets closely, dissect stock market trends and then apply them to the North American markets; in addition to global markets.

Amos has a deep-rooted background in foreign exchange and commodities. His previous experience working within the cryptocurrency arena has given him the advantage to identify the fast-moving stock market and financial trends. Amos calls Hong Kong home and has been a financial content writer for the last 3 years.

He has managed teams of international media strategists and financial writers to cover all top stories in the stock market each day. His skills include his tireless drive to find the most valid information and actionable details that investors can use to formulate valid decisions on stocks to buy or stocks to avoid. Furthermore, Amos’ ability to cover trending stories across the globe brings a fresh perspective on key data and how it not only affects the North American markets but also how it could translate to the world markets alike.

Most of the time you can find him diving into corporate filings, focusing on fundamentals that could influence major market moves. One of his passions is researching technology and biotechnology stocks. Some of the most cutting-edge innovations have stemmed from these industries. While many don’t become industry blockbusters, the processes and applications of these innovations has led to some of the biggest developments known to man in the modern age. As a global correspondent, Amos has been able to see both sides of the story as it relates to world news and offers a true, personal approach, cutting through the noise of the mass media. He was integral in reporting on the Hong Kong uprising and doing first-hand research on international sentiment from the novel coronavirus.

In his free time, Amos is an avid fan of music and art and enjoys attending concerts.

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