Why Is Affirm Plunging on Monday?
The stock market was having a so-so day on Monday, with the Dow Jones Industrial Average slightly higher and the S&P 500 and Nasdaq Composite indexes lower by less than 1% as of 2:15 p.m. EDT. However, buy now, pay later company Affirm (NASDAQ: AFRM) was a big underperformer, with shares down by 11%.
There isn't any company-specific news fueling today's decline. In fact, the only major news item specific to Affirm is an analyst increasing its price target. However, there is a potential explanation of why we may be seeing shares pull back.
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Source Fool.com
