Down Almost 55%, Is This Buy Now, Pay Later Stock Worth Buying?
Big businesses are creating and acquiring their way into the "buy now, pay later" space to capture their share of this growth trend. Even after a recent uptick, fintech company Affirm (NASDAQ: AFRM) is down almost 55% from its highs after going public in January. While some investors are afraid of the competition in the space, here are three reasons why you should be excited about Affirm.
Credit cards have long been the preferred tool of consumer credit, so the emergence of buy now, pay later (BNPL) hasn't quite caught on with the market yet. However, credit card revenues have peaked and declined since 2016, while BNPL continues to grow rapidly, estimated to achieve $680 billion in transaction volume by 2025.
Over the past year, several major companies have entered the BNPL space, including:
Source Fool.com
