Investors are paying now for some past ebullience in the buy-now, pay-later sector.
which provides credit and installment payment plans for consumer purchases, reported on Thursday that gross merchandise volume rose 115% in the final three months of calendar 2021 from a year earlier. Quarterly transactions more than tripled from the prior year and transactions per active customers rose 15%. Affirm’s partnership deal with
is now a driver of growth and the company raised its guidance for its full-year fiscal 2022 gross merchandise volume to more than 75% year-over-year expansion.
But the market is looking past that right now. Affirm’s shares dropped over 20% on Thursday when it released numbers earlier than scheduled…
