Why Affirm Holdings Stock Was Sinking Today
Shares of Affirm Holding (NASDAQ: AFRM) tumbled today on news that Apple (NASDAQ: AAPL) was launching a rival "buy now, pay later" (BNPL) service. According to Bloomberg, Apple will be partnering with Goldman Sachs on the project, currently known as Apple Pay Later.
Investors, fearing competition from the world's biggest company, sent Affirm shares lower. They closed down 10.5%.
Image source: Affirm.
Source Fool.com
