Why Shares of Affirm Are Rising Today
Shares of the buy now, pay later company Affirm Holdings (NASDAQ: AFRM) were roughly 12.5% higher as of 2:32 p.m. ET today, as tech stocks rallied and the company announced upgrades to its platform.
After a difficult and volatile week for stocks, the Nasdaq Composite had risen 2.35% on Wednesday as of this writing. The Federal Reserve's rate-setting Federal Open Market Committee wrapped up its first meeting of the year and didn't appear to drop any surprises, but hinted that it is likely to begin raising its benchmark overnight lending rate in March, which many suspected.
Affirm earlier today also announced the release of upgrades to its app and a new Chrome extension. The upgrades on the app include giving consumers more insight into their finances and allowing them to create a virtual card that can be used for purchases online or in stores, among other new features.
Source Fool.com
