A 40% price drop since early November presents a good buying opportunity for this buy now, pay later stock.
Buy-now, pay-later company Affirm Holdings (NASDAQ: AFRM) lost 22% of its value in November, according to data from S&P Global Market Intelligence. The decline in the stock price was part of a broader drop across the fintech industry, as inflation took hold and fear of the omicron variant sent stock prices down. On Nov. 10, Affirm posted excellent results for the first fiscal quarter, ended Sept. 30.
It went public in January at $49 per share, opened at $90.90 on the first day, and currently trades at nearly $120, which gives it a market cap of nearly $30 billion. Can Affirm disrupt traditional credit card companies? Affirm's primary goal is to disrupt traditional credit card companies.