What's Going On With Affirm Holdings Stock?
Portfolio Pulse from Adam Eckert
Affirm Holdings Inc (NYSE:AFRM) stock is trading higher due to expectations of record Cyber Monday sales, with projections of $12 billion to $12.4 billion, surpassing initial estimates. The growth is partly attributed to the 'Buy Now, Pay Later' services, which Affirm provides, and is expected to contribute $782 million in online spending, an 18% increase from the previous year. Affirm's stock rose 4.84% to $27.50 at the time of the report.
November 27, 2023 | 2:24 pm
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POSITIVE IMPACT
Affirm Holdings Inc's stock is experiencing an uptick due to the positive outlook for Cyber Monday sales, which are expected to reach new highs. The 'Buy Now, Pay Later' sector, where Affirm operates, is projected to see significant growth in usage.
The positive sentiment around Cyber Monday sales directly impacts Affirm as it is a key player in the 'Buy Now, Pay Later' space, which is expected to see substantial growth. This news is likely to increase investor confidence and demand for AFRM shares in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100