When it comes to investing in new fintech companies and the financing concept of BNPL — buy now, pay later — Affirm stock comes immediately to mind. So does its recent large price swings.
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Affirm (AFRM) shares are making their biggest move in months. Up four of the past five sessions, the young large cap has rocketed 19% for the week on the eve of its fourth-quarter results.
Affirm likely scared the wits of shareholders on Nov. 10. The stock nose-dived 15% in the heaviest volume in more than three weeks. A total 22.5 million shares exchanged hands that day, 42% above its average turnover over the past 50 sessions.
But after reporting third-quarter results late that day, AFRM went into bungee cord-jumping mode. Shares rose as much as 24% intraday on Nov. 11, then settled at 151.83. Good for a 13.7% gain. As the accompanying daily chart shows, volume soared again. This…
