Financial technology (fintech) stocks have gained significant attention for their potential to deliver solid gains as consumers lose faith in traditional banks. Here are three hot fintech stocks to watch in 2024:
- SoFi Technologies (SOFI): SoFi is expected to report profitability in the coming quarter and has the potential to double in 2024. The company has maintained user growth momentum and added 717,000 users in the last quarter.
- Affirm (AFRM): Affirm, a buy now, pay later (BNPL) service provider, has partnerships with e-commerce giants like Shopify, Amazon, and Walmart. It remains unprofitable but is ready to disrupt the payment industry and is expected to benefit as consumer spending improves.
- PayPal (PYPL): Despite a tough year, PayPal has the potential to move upward as consumer spending improves. The company benefits from serving both consumers and merchants and expects to generate 6-7% revenue growth.
Overall, these fintech stocks have shown impressive growth and have the potential to deliver significant gains. Investors should consider keeping an eye on these stocks in 2024.
