Top 5 Financial Stocks You May Want To Dump In September By Benzinga

Virgin Money upgraded as investment bank looks at what would happen to Lloyds and others if recession bites

Top 5 Financial Stocks You May Want To Dump In September

Published Sep 05, 2023 12:22 Updated Sep 05, 2023 13:40

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Top 5 Financial Stocks You May Want To Dump In September

MLI

+1.18%

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DLHC

-0.42%

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RYI

-1.76%

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PYPL

+3.31%

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AFRM

+3.90%

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Benzinga - by Lisa Levin, Benzinga Editor.

The most overbought stocks in the financial sector presents an opportunity to go short on these overvalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

MoneyLion Inc. (NYSE: ML)

MoneyLion posted a wider-than-expected quarterly loss. Dee Choubey, MoneyLion’s co-founder and Chief Executive Officer said, "Performance in the second quarter was driven by product diversification and margin expansion in our Enterprise marketplace business and continued momentum and robust credit performance in our Consumer business." The company’s stock has a 52-week high of $45.30. .
RSI Value: 70.55
ML Price Action: Shares of MoneyLion rose 3.1% to close at $23.08 on Friday.

DLocal Limited (NASDAQ: DLO)

DLocal reported better-than-expected second-quarter financial results and reaffirmed FY23 revenue guidance. “We delivered another quarter of outstanding results, with double-digit growth across all parameters, compared to last year as well as the previous quarter. Our performance demonstrates the distinctive advantages of our business, from our cutting-edge technology and broad and well-diversified geographic reach to our excellent sales execution and vast market opportunity,” said Sebastian Kanovich, co-CEO of dLocal. The company’s stock has a 52-week high of $27.59.
RSI Value: 70.60
DLO Price Action: Shares of DLocal rose 0.8% to close at $21.61 on Friday.

Affirm Holdings, Inc. (NASDAQ: AFRM)

Affirm reported better-than-expected fourth-quarter financial results and issued guidance. The company has a 52-week high of $27.26.
RSI Value: 73.26
AFRM Price Action: Shares of Affirm Holdings rose 5.1% to close at $21.86 on Friday.

Ryan Specialty Holdings, Inc. (NYSE: RYAN)

Ryan Specialty reported upbeat quarterly results. "We delivered another excellent quarter of strong double-digit growth in organic revenue, adjusted EBITDAC and adjusted net income. Our demonstrated skill, unparalleled expertise and differentiated platform continue to enable us to outperform while adding value for our clients and trading partners," said Patrick G. Ryan, Founder, Chairman and Chief Executive Officer of Ryan Specialty. The company’s 52-week high is $49.39.
RSI Value: 70.21
RYAN Price Action: Shares of Ryan Specialty Holdings gained 0.5% to close at $48.98 on Friday.

Payoneer Global Inc. (NASDAQ: PAYO)

Payoneer Global reported better-than-expected second-quarter financial results and issued FY23 revenue guidance above estimates. "Payoneer delivers a broad suite of payment and financial services to emerging market SMBs," said John Caplan, Chief Executive Officer of Payoneer. "Our customers use Payoneer as the easiest, most reliable way to connect into the global economy and manage their international financial activity across currencies, countries, customers, suppliers, and vendors." The company has a 52-week high of $8.04.
RSI Value: 72.61
PAYO Price Action: Shares of Payoneer Global rose 1.3% to settle at $6.27 on Friday.

Read More: Fear & Greed Index Moves To 'Greed' Zone Following Jobs Data

Read the original article on Benzinga

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FTSE 100	7,515.38	+25.54	+0.34%
DAX	16,656.44	+123.33	+0.75%
Euro Stoxx 50	4,483.75	+30.98	+0.70%
S&P 500	4,566.40	-0.78	-0.02%
Nikkei 225	33,445.90	+659.68	+2.01%
Dow Jones	36,171.24	+46.68	+0.13%
FTSE 100 Futures	7,526.0	+33.9	+0.45%

Brent Oil	74.62	-2.58	-3.34%
Crude Oil WTI	69.65	-2.67	-3.69%
Gold	2,048.15	+11.85	+0.58%
Silver	24.262	-0.284	-1.16%
Copper	3.7382	-0.0458	-1.21%
London Cocoa	3,454.00	+13.00	+0.38%
London Wheat	184.85	-0.40	-0.22%

U.K. 10Y	3.9855	+0.0405	+1.03%
U.K. 5Y	4.0450	+0.0410	+1.02%
U.K. 2Y	4.5085	+0.0355	+0.79%
Germany 10Y	2.1925	-0.0205	-0.93%
U.S. 10Y	4.117	-0.054	-1.30%
U.S. 5Y	4.123	-0.015	-0.37%
U.S. 2Y	4.605	+0.028	+0.62%

Lloyds Banking	45.80	+0.80	+1.77%
Vodafone Group PLC	72.19	+0.63	+0.88%
Barclays	140.24	+0.78	+0.56%
BT Group	136.65	+6.40	+4.91%
HSBC	614.70	+11.30	+1.87%
BHP Group Ltd	2,461.00	+44.00	+1.82%
Exxon Mobil	98.99	-1.45	-1.44%

Top 5 Financial Stocks You May Want To Dump In September

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