Personal finance

Financial Sector Update for 12/28/2020: SQ, FTFT, XP, XLF, FAS, FAZ


Dec 28, 2020 8:51AM EST

Financial firms were trading mostly higher before markets open on Monday as the Select Financial Sector SPDR (XLF) added 0.9%. The Direxion Daily Financial Bull 3X Shares (FAS) gained 2.8%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) declined 2.5%.

Future Fintech (FTFT) gained more than 4% during premarket trading on Monday. Last Thursday, the company said it has agreed to sell 4.2 million of its common shares and warrants to buy up to 4.2 million common shares to unnamed institutional investors under a registered direct offering with expected gross proceeds of $8 million.

Square (SQ) added more than 2% after reportedly holding discussions about a potential purchase of Tidal, a music-streaming service, as part of a drive to diversify, Bloomberg reported, citing an unidentified source.

XP (XP), a Brazilian financial services platform, was 1.6% higher after announcing on Thursday it has acquired financial advisory company Riza M&A for an undisclosed sum.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story SQ FTFT XP XLF FAS MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

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Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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