It’s a Big Week for Payment Stocks
It’s been quite a week for stocks recently, and as it turns out, mobile payments and similar payment-based operations were part of the rising tide that saw a lot of boats lifted.
A new look at the market from last week’s numbers revealed that companies both large and small saw gains, and some saw much larger gains than others.
For instance, Everi Holdings—a comparatively small firm—saw its rather smallish base driven upward 12 percent in recent trading. Mitek landed an 11 percent gain on the week on the strength of news that an unnamed European bank was set to bring the Mitek Verify platform to its current operations, and both Diebold and Moneygram netted gains close to 11 percent.
Even the “worst” gains were still gains for the most part; while Fidelity lost 0.2 percent in recent pricing data, companies from Mastercard to Fiserv to Verifone saw gains.
That’s actually staggering, in its way. While the recent gains in the stock market in general would explain at least some of this, it’s potentially also worth noting that the gains in mobile payments and payment-related stocks have been staggering by most any measure.
So we have several different factors at work here driving gains in stock prices: we have a market that’s gaining in popularity and use overall, so we may be seeing the early adopter phenomenon start to expand. We also have the overall growth of the market and a potential fleeing to safety involved.
We have a lot of factors going into these gains, and we really can’t say just which is causing all the big gains in mobile payments. We’d like to say it’s just people realizing that mobile payments are the wave of the future and are investing accordingly.
We can’t say it with any kind of accuracy, though, so we have to prevaricate a bit. We have several possible causes, so perhaps it’s best to say that each contributes a bit to the greater overall whole we’ve seen in operation in the market lately.
Whatever’s causing these gains, gains are on hand right now. We may well see more gains before it’s all done, but keeping a weather eye on the market overall likely won’t go unrewarded.