Why Shares of Affirm Are Falling Today
Shares of the buy now, pay later (BNPL) lender Affirm (NASDAQ: AFRM) fell as much as 16% today before rebounding some in the last hour of trading when it only traded down about 11%. There does not seem to be an obvious reason behind the move.
Despite its lack of profitability, investors just a few months ago had driven Affirm's stock up to a more-than $40 billion market cap. In August of last year, Affirm partnered with Amazon to deliver its BNPL option at checkout.
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Source Fool.com
