Few parts of the stockmarket have cratered as spectacularly as the buy now, pay later sector – the much-hyped fintechs that were once the market darlings of retail investors.
Following plunges as sharp as that, some investors might be tempted to make a speculative bet on BNPL sector. However, with rates now on the rise, those priorities have flipped. Investors, who can now get higher yields on bonds, are much less keen to put their money into stocks – especially loss-making technology companies and fintechs – that might pay dividends years down the track. This has been the most important reason why BNPL shares have crashed.
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