Industry: Tech volatility opens doors for fintech investments, market expert advises
[Para 1: The Lead] Market volatility in tech, driven by interest rate hikes, slowing growth, and high valuations, has created an opportune moment for investors to consider "nibbling" on fintech stocks, according to Tom Sosnoff, CEO of Tastytrade. The sector, once a market darling, now offers compelling entry points due to steep declines in share prices. [Para 2-3: Supporting details & Context] Sosnoff, a self-proclaimed contrarian, advises investors to focus on liquidity rather than timing the market's absolute bottom. He highlights Robinhood (HOOD) and Oracle (ORCL) as examples of highly liquid stocks that have become attractively priced. Despite Oracle's retreat from its 52-week high, Sosnoff sees potential in legacy tech companies. He argues that fears of AI disrupting software companies are overblown, suggesting that integration challenges are manageable and that current pressures on software stocks are more about valuation resets than technological obsolescence.