Why Shares of Affirm, Upstart, and SoFi Are Falling Today

Shares of several popular fintech stocks continued to slump today, as investors prepare for the start of earnings season and new data this week that will provide a glimpse into the current state of inflation.

Shares of the buy now, pay later (BNPL) company Affirm (NASDAQ: AFRM) traded nearly 9% lower in the final hour of trading. Shares of the artificial intelligence lender Upstart (NASDAQ: UPST) traded roughly 1.4% lower, and shares of the digital bank SoFi (NASDAQ: SOFI) traded nearly 4% lower.

There's a lot of new data that will come out later this week, including the closely watched Consumer Price Index (CPI), which tracks the prices of daily goods and services and is one way the market gauges inflation.

Source Fool.com