Loading...Loading...Another One Laps The Market In a post last week ("From The Viewpoint Of Calamity"), we mentioned that one of our hedged portfolios from mid-November more than doubled the performance of the SPDR S&P 500 Trust ETF SPY over the next six months. In that post, we joked that despite those extraordinary returns, many readers would be indifferent. We may have spoken too soon. Since then, we've seen a spike in interest, particularly after the following week's portfolio (the one from Thanksgiving ...

Affirm Holdings (AFRM) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this operator of digital commerce platform have returned -10.1%, compared to the Zacks S&P 500 composite's +4.2% change. During this period, the Zacks Business - Services industry, which Affirm Holdings falls in, has gained 2.4%. The key question now is: What could be the stock' ...

The early days of the pandemic served as a transformational moment for the financial services industry. For decades, financial services firms tended to eschew new technology, preferring to stick with tried-and-true solutions. In the world of high finance, mistakes are costly, so a proven workflow is often preferable to a new innovation.In 2020, however, the world shut down. Companies couldn’t rely on traditional bank branches, paper-based documentation solutions or brick-and-mortar loan offices to offer the ...

Affirm Holdings, Inc. (AFRM) recently announced its collaboration with a Canadian travel agency — FlightHub. The deal enables Affirm to provide flexible and transparent payment options, like buy now pay later (BNPL), to eligible consumers for travel bookings, which will boost its transaction volumes.AFRM’s business model of not charging any late or hidden charges further enhances its offerings. This partnership is an extension of AFRM’s existing partnership with FlightHub in the United States.The deal comes ...

Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023.The Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry must abide by the same federal protections as users of credit cards.The agency unveiled what it called an "interpretive rule" that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act.That means the indust ...

This volatile fintech stock is trading at a discount to its IPO price.Affirm (AFRM -2.27%) attracted a stampede of bulls when it went public on Jan. 13, 2021. The buy now, pay later (BNPL) services provider priced its IPO at $49, and its shares soared to an all-time high of $168.52 on Nov. 4, 2021.At the time, investors were dazzled by Affirm's explosive growth rates and its disruptive potential. By breaking up larger purchases into smaller installments through microloans, Affirm's BNPL platform was an appe ...

业绩总结 - 公司第一季度GMV增长36%，收入增长51%[4] - 公司的收入减去交易成本增长速度超过GMV增长速度[4] - 公司发布了强劲的调整后营业收入[4] 产品和技术 - 公司强调产品多样性使得单位经济效益非常强劲[6] - 公司表示Visa推出的Flex产品与Affirm卡功能相似，但对行业竞争持乐观态度[18] 信用管理 - 公司表示信用管理是首要任务，对信用非常谨慎[12] - 公司计划扩大信用范围，但不将信用视为增长杠杆[14] - 公司不会承诺批准率，重视信用控制，避免批准无法偿还的贷款[31] Affirm卡业务 - 公司表示Affirm卡用户数量已达到100万，卡的每用户支出和参与度仍有提升空间[22] - 公司强调Affirm卡的目标用户是那些看重分期付款而非奖励的人[24] - 公司预计未来五年将继续专注于赢得结账，扩大合作伙伴关系，以及发展Affirm卡业务[41] 市场扩张和并购 - 公司在最大的商户合作伙伴中的购物车份额仍然很低，有很大增长空间[27] - 公司将在英国推出业务，B2B机会仍处于早期阶段[35] 用户行为 - 用户在被拒绝后会重新尝试，表现出对产品的信任和忠诚[46] - 用户对产品的信任是建立在长期努力下的，而且很容易被破坏[47] - 信用卡申请流程在手机上完成，大部分信用拒绝在刷卡前发生[49]

公司业绩 - 公司GMV增长36%,远超电商8.5%的增速 [3] - 公司营收增长51%,调整后运营收入表现强劲 [3] - 公司收入减去交易成本的增长速度快于GMV,单位利润率有所提高 [3] 增长驱动因素 - 公司认为增长趋势是由消费者从信用卡转向类似公司产品的根本性转变驱动的 [5] - 公司预计这一趋势在可预见的未来是可持续的 [5] - 公司通过产品多样化在任何宏观环境下都能保持盈利能力 [5] 宏观经济环境 - 公司认为宏观经济趋势符合预期,消费者就业充分,工资增长与成本增长保持一致 [8] - 公司认为其业务只是美国电子商务的一个切片,不能代表整体经济 [8] 消费者行为 - 公司平台上的重复使用率很高,新用户群体中没有明显的信用信号 [10] 信用管理 - 公司一直将信用管理视为首要任务,过去1.5年非常谨慎地管理信用,以确保持续优于债务资本市场 [12] - 公司不认为继续降低逾期率是明智的,而是寻求在控制结果的情况下为更多消费者提供服务 [12] 产品扩展 - 公司不将信用视为增长杠杆,而是通过改变消费者看到的优惠来重新投资 [14] - 公司认为扩大信用范围的部分很难从消费者角度运作 [14] 行业竞争 - 公司对Visa推出类似产品并不感到惊讶,认为这对消费者信贷的未来是积极的 [18] - 公司认为其品牌对消费者很重要,能够在有多个BNPL选择的网站上获得高购物车份额 [30] 合作伙伴关系 - 公司在亚马逊和Shopify等主要合作伙伴的购物车份额仍然很低,预计在这些平台上还有很大的增长空间 [28] - 公司认为与多个BNPL提供商合作实际上有助于增加购物车份额 [31] 国际扩张 - 公司预计今年将在英国上线,但短期内不会对业务产生重大影响 [37] - 公司认为进入新市场会对单位经济产生边际负面影响,但已纳入3%至4%的预期范围内 [39] 未来展望 - 公司预计五年后业务将类似于今天,主要通过赢得结账和扩展现有及新商户合作伙伴关系来增长 [42] - 公司专注于当前正在做的事情,对新产品开发持谨慎态度 [44]

This misunderstood fintech is loaded with potential upside.Buy Now, Pay Later company Affirm (AFRM -2.37%) is one of the more hotly debated stocks on Wall Street. How can investors trust a business seemingly losing money while competing in a new and growing (but crowded) industry?Yet, the stock has risen like a phoenix from the fire, surging over 150% these past 12 months. Is Wall Street simply being irrational, or is there something to this? I decided to dig into the business to uncover why Affirm's long-t ...

After reaching an important support level, Affirm Holdings (AFRM) could be a good stock pick from a technical perspective. AFRM surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.Shares of AF ...