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Fintech firm Shift4, Toast stocks drop as market slumps
The stock market’s recent decline has impacted fintech companies linked to consumer spending and small businesses.
The Nasdaq fell 2.1% on Mar.13, marking its worst week since September.
Shares of Shift4, Toast, and Bill.com experienced steeper declines of 6.7%, 6.2%, and 4%, respectively.
Shift4, a payments processing provider, has faced ongoing challenges. Its stock is down 19% year-to-date as of Mar.13.
Toast, which provides payment technology for restaurants and cafes, saw a 15% decrease in stock value in March.
This is compared to an 8% decline in the Nasdaq.
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