2 Positive Trends That Could Steer Affirm in the Right Direction
Affirm Holdings (NASDAQ: AFRM) has been one of the worst-performing stocks on the market over the past six months. Stock in the leading "buy now, pay later" (BNPL) firm is down a whopping 75% year to date, and down about 84% from its peak of $168 a share back in early November.
The stock's meteoric rise to a ridiculously high valuation last year was partly to blame for the crash that followed, but a variety of other factors contributed as well, including the broader sell-off in growth stocks, inflation, fears of an economic slowdown, rising interest rates, and rising expenses. While its revenue growth has been steady and strong, Affirm's high expenses have kept it unprofitable.
While this market is fraught with uncertainty for Affirm, there were some positive trends in its recent earnings report that bear watching.
Source Fool.com
