The sell-off has hit tech investors particularly hard as many of the more prominent growth names on the Nasdaq have fallen more than two-thirds from all-time highs. Such a recovery is a bullish sign for stocks like DocuSign (NASDAQ: DOCU), Affirm Holdings (NASDAQ: AFRM), and SoFi Technologies (NASDAQ: SOFI).
Mizuho Senior Financial Technology Analyst Dan Dolev joins Yahoo Finance Live to break down Block earnings and the outlook for buy now, pay later stocks.
Several fintech stocks bounced higher this week, apparently due to the market's upbeat response to the second-quarter report that digital bank SoFi Technologies (NASDAQ: SOFI) delivered Tuesday. For the week, shares of SoFi were up by roughly 30% at the close of trading Thursday, according to data provided by S&P Global Market Intelligence. Shares of the "buy now, pay later" (BNPL) company Affirm (NASDAQ: AFRM) traded nearly 20% higher, and shares of the artificial intelligence lender Upstart (NASDAQ: UPST) were up by about 18%.