Why Affirm Holdings Tanked 34.7% in February
Shares of Affirm Holdings (NASDAQ: AFRM) tanked 34.7% in February, according to data from S&P Global Market Intelligence. The buy now, pay later (BNPL) provider put up strong growth numbers in its second-quarter earnings report, but investors were concerned about mounting losses, heavy increases in marketing spending, and a big jump in credit losses.
On Feb. 10, Affirm reported its second-quarter earnings result that covered the three months ending in December. Revenue growth was strong in the period, up 77% to $361 million, handily beating expectations of $329 million going into the announcement. Just seeing that number, you might think Affirm stock jumped in the days following the report. But that is not the case.
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Source Fool.com
