Insurance broker Hagerty leads weeks’ financial gainers, while Grab dips (NASDAQ:GRAB)
While financial stocks wrapped up the week ended May 27 on a strong note, shares of Grab Holdings (NASDAQ:GRAB) dropped the most among the only three losers within the financial sector, cratering nearly 25% after two high-level executives left its fintech unit.
Cryptocurrency miner HIVE Blockchain Technologies (NASDAQ:HIVE) -10.1% slid as bitcoin (BTC-USD) -1.6% continues to consolidate within a tight trading range. Also, HIVE’s board approved a 1-for-5 reverse stock split.
Meanwhile, the top five financial gainers (market cap of $2B+) include:
Insurance broker Hagerty (NYSE:HGTY) +22.3% jumped;
Chile-based regional bank Italu Corpbanca (ITCB) +19.8% climbed;
Goosehead Insurance (NASDAQ:GSHD) +14.1% drifted higher;
Investment brokerage platform LPL Financial (LPLA) +13.5% rose and;
Germany’s Deutsche Bank (DB) +13.5% gained after European Central Bank President Christine Lagarde said positive rates are possible by the third quarter. Separately, the lender was in early stage talks to potentially sell its Mexican unit to Citigroup (C).
Previously, (May 27) consumer sentiment slipped further in the final May reading.