Here's Why Affirm Is Spiking Higher Today

The stock market was having a generally strong day on Friday, with all three major averages in the green, led by the tech-heavy Nasdaq. However, buy-now-pay-later (BNPL) company Affirm (NASDAQ: AFRM) was a big outperformer, with shares up by about 14% for the day as of 12:45 p.m. EST.

There are a couple of reasons Affirm is such an outperformer today. First is the overall market momentum. Growth stocks, in general, have been beaten down recently, and they're getting the biggest benefit from today's positive move, so at least some of Affirm's pop is just due to a strong day for growth stocks.

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Source Fool.com