Why Affirm Holdings Stock Popped Today
Shares of "buy now, pay later" (BNPL) services company Affirm Holdings (NASDAQ: AFRM) jumped as much as 16% early in Monday's session following an encouraging report on BNPL trends as the 2023 holiday shopping season kicks off. Shares then pulled back a bit, but were still trading up by 10.2% as of 1:30 p.m. ET.
According to the report released Monday morning by Analytics, BNPL purchases accounted for around $7.3 billion in online spending from Nov. 1 through Nov. 26, up 14% year over year. And that momentum appears to be accelerating following Black Friday. Adobe said BNPL purchases climbed 20% year over year over the holiday weekend, driving $782 million in online spending on Saturday and Sunday alone.
BNPL options are presented to online shoppers as short-term interest-free loans -- an increasingly attractive option as consumers grapple with inflation, higher interest rates, and macroeconomic uncertainty. Affirm is integrated at the checkouts of more than 250,000 retailers -- notably including Amazon, Dick's Sporting Goods, Target, and Walmart -- making one of the most pervasive BNPL platforms on the market today.
Source Fool.com
Adobe Inc. Stock
The stock is one of the favorites of our community with 44 Buy predictions and 2 Sell predictions.
With a target price of 590 € there is a positive potential of 32.73% for Adobe Inc. compared to the current price of 444.5 €.
