Lending platform Upstart, crypto bank Silvergate Capital lead weeks’ financial losers

Trading Charts on a Display

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Despite massive gains experienced across the board on Friday’s session, artificial intelligence-powered lending platform Upstart (NASDAQ:UPST) -54.6% nosedived the most among the top five biggest financial losers (market cap of $2B+) in the week ended May 13. Shares fell substantially after its 2022 guidance disappointed investors, followed by a series of analyst downgrades.

As for the rest of the biggest losers within the financial sector, Cryptocurrency lender Silvergate Capital (NYSE:SI) -32%, which experienced selling pressure as bitcoin (BTC-USD) -13% and other major tokens slump in the wake of investor uncertainty;

Financial services firm Jackson Financial (NYSE:JXN) -23.4% dipped after its Q1 earnings fell short of Wall Street expectations;

Signature Bank (SBNY) -14.3% drifted down and;

Brighthouse Financial (BHF) –12.1% declined after Q1 net investment income further declined.

The top five best financial performers are:

White Mountains Insurance (NYSE:WTM) +10.4% climbed after its move to sell NSM Insurance to Carlyle (CG);

Netherlands-based bank ING Group (ING) +8.8% perked up as it went ex-dividend Friday;

China-based personal financial services platform Lufax (LU) +8.2% rose;

Asset manager TPG (TPG) +6.9% increased after its Q1 results and;

Federated Hermes (FHI) +6.8% gained.

Previously, (May 13) consumer sentiment slid below expectations in May, as inflation hovers around 40-year highs.



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