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After a stellar week leading up to Christmas, cryptocurrency stocks lost their shine in the final week of the year, with three of the five weakest financial names being bitcoin miners.
During the last five sessions of the week, the SPDR of the Select Financial Sector ETF (NYSERCA:XLF) rose 0.9% and ended the year up 9.9%, lagging the S&P 500's 24% gain. By contrast, bitcoin (btc-USD) rose 152% last year, although the token will continue to trade over the weekend and on Monday.
In the column of climbers, Burford Capital (New York Stock Exchange:BUR) increased by 19% amid news that Argentina's new president, Javier Milei, suggested using a perpetual bond to pay a $16 billion court-ordered judgment in September.
BGC Group (NASDAQ:BGC) stock rose 8.1% During the week, the investment firm said it expects fourth-quarter revenue and earnings to be at the high end of its previous outlook range. Additionally, the company expects CFTC regulatory approval of its US FMX e-Treasury, rate futures and spot forex platform in early 2024.
Chinese fintech app Qifu technology (NASDAQ:QFIN) gained 6.5%.
White Mountain InsuranceNew York Stock Exchange:WTM) rose 5.1%.
And TD Synnex (NASDAQ:SNEX) advanced 5.1%.
In the decliners' column, ai-powered lending platform Upstart Holdings (NASDAQ:UPST) slid further, falling 9.5% in the last five sessions of the year, without obvious news.
With cryptocurrencies weakening in the last two sessions of the week following a dramatic rally, bitcoin miner Riot Platforms (NASDAQ: UNREST) sank 7.6%.
Digital marathon entries (NASDAQ: MARÁ) fell 5.2%breaking an 11-session streak on Thursday.
Clean spark (NASDAQ:CLSK) submerged 4.3%.
The Bancorp (NASDAQ:TBBK) completed the five biggest descents, falling 3.8% for the week.
