Affirm Shares Lower On Report Walmart-Backed Fintech One Introduced Buy Now, Pay Later
Portfolio Pulse from Benzinga Newsdesk
Affirm Holdings Inc.'s stock (AFRM) experienced a decline following a report that Walmart-backed Fintech One has launched a Buy Now, Pay Later (BNPL) service, indicating a potential increase in competition in the BNPL sector.
April 23, 2024 | 12:14 pm
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NEGATIVE IMPACT
Affirm Holdings Inc.'s shares fell after news that Walmart's Fintech One is entering the BNPL space, potentially increasing competition.
The introduction of a BNPL service by Walmart-backed Fintech One directly impacts Affirm Holdings Inc. by increasing competition in the BNPL market. This could potentially lead to market share dilution for Affirm, hence the negative short-term impact on AFRM's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90