What's going on with #affirm stock? The week before it was on its way down. Then bounced like crazy. Today it is down 10% What's going on with it? I got in as proxy to travel rebound, and planning to more after today's wreck, unless there's some uncertainty going on?
It’s pump and dump.
Would've been my first guess. But It ain't no penny stock to pump and dump. Also Good revenue growth and growing market share
I agree with the growth but Peloton dependency is strong which means they cannot expand fast to other categories. Also p/s is high even consider the growth
Apparently the Buy Now Pay Later model is very easy to replicate so barrier to entry is low and taking away from their projected growth. $PYPL recently added BNPL to their platform which didn’t help.
True. Whoever moves fast stands to win, and affirm is doing good on that front. PayPal put its legs in too many things lately. I wouldn't think it'd be a bug competitor as such but space is getting crowded. Chase has pay later too. No one uses it
I’ll also add that there’s a startup called Amount that’s trying to easily enable this for any bank.
They have no moat. Sites I buy off used to support affirm a few months ago and now all have a new service like afterpay or something
Aren’t they pretty reliant on PTON? I didn’t read PTON earnings but that stock’s down 15% today
Just saw they recalled treadmills and halted sales. That’s gonna hit Affirm. Not sure if there’s other catalysts but seems like a short term issue to me
Ah that must be it. I missed that correlation. Pton is big source for affirm and pton sales have been halted indefinitely due to multiple death and injuries.