Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Affirm Stock Finished 3.6% Lower on Friday


Affirm Holdings (NASDAQ: AFRM) finished the day down 3.8% on Friday, closing at $19.28 per share. The stock price had dropped as much as 6.3% at around 2:54 p.m. ET

The market was down big on Friday, with the Dow Jones Industrial Average falling 486 points (1.6%), the Nasdaq falling 199 points (1.8%), and the S&P 500 down 65 points (1.7%).

For banks and fintechs, especially those in the payments industry, the decline is probably due to a hangover effect from the Federal Reserve's 75-basis-point interest-rate increase on Wednesday. Rates have now increased 75 basis points each of the past three times the Fed has convened. The benchmark rate is now 3% to 3.25% -- the highest since 2008. 

Continue reading


Source Fool.com

Like: 0
Share

Comments