Here is why Affirm Holdings Inc. (AFRM) stock soared in the after-hours on Friday?

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Affirm Holdings Inc. (AFRM) shares surged 35.61% in after-hours on Friday, August 27, 2021, and closed the weekly trading at $92.08. In the regular trading session of Friday, AFRM’s stock lost 2.97. AFRM shares have moved up by 4.85% in the past week. Over the past three months, the stock has gained 11.66%, while over the past six months, it has declined 25.74%. Further, the company has a current market of $18.55 billion and its outstanding shares stood at 233.31 million.

Let’s have a look at its recent news and developments.


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AFRM upcoming financial results announcement

Affirm Holdings, Inc (AFRM) will host a conference call and webcast to discuss the fourth quarter and full fiscal year 2021 financial results on Thursday, September 9, 2021, at 5:00 pm ET.

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AFRM on Amazon

On August 27, 2021, Affirm Holdings (AFRM) announced that its buy-now-pay-later offerings are coming to Amazon.com. The company said it’s currently testing its flexible payment service on Amazon and plans to widely debut the option in the coming months. If a customer is approved, Affirm will offer monthly payments for purchases of $50 or more.

AFRM Asset-Backed Securitization

On August 04, 2021, Affirm Holdings, Inc. (AFRM) closed a $500 million securitization of its point-of-sale instalment loans. The issuance follows an active and successful period for Affirm, having recently been recognized as “Esoteric ABS Issuer of the Year” in the 2021 U.S. Securitization Awards announced by GlobalCapital. The transaction marks Affirm’s third securitization of 2021, the sixth since it launched its program in July 2020, and represents the company’s most successful issuance to date.

AFRM partnership with Apple

On August 03, 2021, Affirm Holdings, Inc. (AFRM) announced that it is teaming up with Apple to offer a “buy now, pay later” program for devices in Canada.

Affirm’s PayBright in Canada plans to offer the option to pay off iPhones, Macs, and iPads over a 12- or 24-month period. The buy-now-pay-later plan will be interest-free for a limited time.

 AFRM collaboration with Shopify

On June 10, 2021, Affirm Holdings Inc announced to roll out its instalment-payment offering to more Shopify merchants in a progression of a partnership between the two companies.

The new offer on Shopify will enable people to split purchases into instalments and will be available for hundreds of thousands of Shopify merchants. The broad rollout will also make the instalment option available for millions of consumers using Shop Pay and the Shop app.

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Conclusion

The AFRM stock went up significantly in the after-hours on Friday after the company announced its partnership with Amazon and we can expect it to continue its surging on Monday as well. 

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