Previous close | 0.5400 |
Open | 0.7000 |
Bid | 0.4400 |
Ask | 0.8000 |
Strike | 160.00 |
Expiry date | 2024-01-19 |
Day's range | 0.7000 - 0.7000 |
Contract range | N/A |
Volume | |
Open interest | 192 |
Shares of the buy now, pay later (BNPL) company Affirm Holdings (NASDAQ: AFRM) traded nearly 9% lower as of 1:28 p.m. ET today after a Wall Street analyst cut his price target on the stock this morning. Piper Sandler analyst Kevin Barker maintained a neutral rating on Affirm but lowered his price target from $32 per share to $28. Like many fintech companies on the consumer side, Affirm has seen its stock sell off immensely as investors worry about a host of concerns including loan defaults.
Investors are focusing on inflation and rising interest rates, which have rippled across the economy. One concern is that inflation weighs on consumers, who could cut spending on goods and services -- reducing opportunities for BNPL companies. Another concern is that consumers use BNPL loans more to pay for things without knowing how much debt they are taking on.
Investing in stocks comes with the risk that the share price will fall. Anyone who held Affirm Holdings, Inc...