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. Following a broad week-long rally in equities, Financials (XLF) had outpaced stocks, climbing 8.0% compared with -2.1% in the prior week. And the S&P 500 (SP500) perked up 6.1% for the week. 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. Asset manager Patria Investments (PAX) -0.9% ticked down, while Property & Casualty insurer Alleghany (Y) remained flat. 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
Tether Treasury Mints $1 Billion in $USDT
