Pre-market trend | Klarna (KLAR) saw a significant drop in volume after its listing on May 15, has the new stock halo faded?

Yesterday's closing saw Klarna's stock price plummet by 7.89%, closing at $15.17. As a recent entrant to the U.S. stock market, the honeymoon period post-IPO seems to have cooled rapidly. Although the MACD daily line triggered a bullish signal above the zero line, there is a clear divergence between the stock price movement and the technical signals, raising direct doubts about the signal's validity in the market. The total trading volume was approximately $225 million, indicating significant selling pressure, with a large amount of capital choosing to exit at the current position. Market sentiment is leaning towards caution, with profit-taking from the first or second day of the new stock accelerating. On the news front, Klarna, as a global leader in the "buy now, pay later" (BNPL) model, has attracted considerable market attention for its IPO. However, the sharp decline in stock price post-listing reflects a divergence in market valuation. Against the backdrop of rising expectations for interest rate hikes by the Federal Reserve, the high valuation logic for fintech companies is being tested—rising interest rates mean increased financing costs and higher consumer credit risks, which are not favorable for Klarna's business model. In the same sector, Visa performed steadily yesterday, rising by 1%, indicating that the market prefers to allocate resources to traditional payment giants with stronger profit certainty rather than emerging fintech companies still in the profit verification phase. From a technical perspective, due to the short listing period, an effective reference system for the moving average system has not yet been established. The $15 integer mark serves as the current psychological support level; if this position is breached, it may trigger further stop-loss orders