Is Affirm Holdings Stock a Buy Now?

Fintech company Affirm Holdings (NASDAQ: AFRM) certainly has a lot of traits that should make for a great investment. Buy now, pay later (BNPL) is a new and flexible credit product winning lots of fans among consumers and merchants alike. Affirm's founder and CEO Max Levchin is also one of the founders of the company that eventually became PayPal, so it has seasoned leadership in the lending technology industry. And it's a small, fast-growing upstart. With an enterprise value of just over $7 billion as of this writing, Affirm could one day be a huge player in the financial services space.

But after just a year and a half as a publicly traded company, Affirm's stock has seen a hefty decline. Shares are down 87% from all-time highs reached in late 2021. Granted, Affirm was way overpriced at peak BNPL hype last year. But after its big tumble, is Affirm stock a buy now?

BNPL was a hot product, and an even hotter investment trend, just a year ago. Complete with an app-based marketplace shoppers could peruse, BNPL apps provide easy-to-obtain credit designed to offer consumers flexible payments for larger purchases. It combines elements of traditional merchant lending practices with e-commerce and digital payments technology.

Source Fool.com