I love how this company has been getting such notoriety. Affirm (AFRM) took a very old concept and put it in shiny new packaging. There is nothing new here. Buy now and pay later has been around for a very long time.
Their earnings today showed a big drop and the market pounded them after the market close.
Their stock price was as high as $162.5. In the aftermarket, they are priced at $27! Even if it ever gets back to $100 (unlikely), it will have to grow ONLY 270% (100/27 - 1). That doesn't look very probable. Anything is possible, but so is the sun going dark tomorrow.
Their earnings for 2019, 2020, 2021 and the trailing 12 months are -120M, -112M, -431M and -634M. Not a good trend! In essence, they are losing more money at a faster pace. Sure, their sales are increasing, but who cares if for each dollar they sell, they are losing even more money.
It looks like the hopium stock boom is coming back to reality.
I sure hope the sun shines tomorrow!
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