Affirm extends its 2-day post-IPO surge to 160%

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Affirm Affirm continued its post-IPO winning streak on Thursday. The stock has now surged as much as 160% in just two days of public trading. The online installment loan provider recently raised $1.2 billion in its initial public offering, selling 24.6 million shares for $49 each. Since Affirm's founding, more than 6 million consumers have used the online lender to pay overtime. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Affirm extended its two-day post-IPO streak on Thursday as shares surged 31% at intraday highs. The stock has now skyrocketed as much as 160% since it began trading publicly on Wednesday.  CEO Max Levchin said in a prepared video address after the IPO that more than 6 million consumers have used Affirm to pay-over-time since its founding. He also noted over 6,500 vendors have used the online lending platform to help drive sales, and the company has done all this without "charging a penny" in late fees or hidden interest. The online lender has seen over $10 billion in Gross Merchandise Volume transacted through its platform since July 1, 2016, according to recent SEC filings. And it appears Affirm has been able to secure customer loyalty as well, with 64% of ...read more...