Affirm Holdings, Inc. (NASDAQ:AFRM) is a leading financial technology company that offers Buy Now, Pay Later (BNPL) services, enabling consumers to make purchases and pay for them over time. The company recently encountered a significant challenge when Klarna, a competitor in the BNPL space, announced it would replace Affirm as Walmart's exclusive BNPL provider. This news led to a sharp decline in Affirm's stock price.
Following Klarna's announcement, Affirm's stock price dropped by $6.38 per share, or 12.74%, closing at $43.70 on March 18, 2025. This decline prompted Pomerantz LLP to investigate potential securities fraud or unlawful business practices by Affirm and its executives. Pomerantz LLP, known for its expertise in securities class actions, has a history of securing substantial damages for investors.
In the wake of these events, Rabois Keith, a director at Affirm, sold 4,600 shares of Class A Common Stock at $44.77 per share on April 1, 2025. Despite this sale, Keith still holds 56,920 shares in the company. This transaction was reported on Form 4, filed with the SEC on April 3, 2025, and is available on the SEC's website.
Currently, Affirm's stock is priced at $35.02, reflecting a further decrease of approximately 10% or $3.89. During the trading day, the stock fluctuated between a low of $30.91 and a high of $36.11. Over the past year, Affirm's stock has experienced significant volatility, with a high of $82.53 and a low of $22.25.
Affirm's market capitalization stands at approximately $11.2 billion, with a trading volume on the NASDAQ exchange of 12,968,714 shares. As the investigation by Pomerantz LLP unfolds, investors are keenly watching for any developments that could impact Affirm's stock performance and overall market position.
