Affirm Stock Skyrockets After IPO
Point-of-sale lender’s stock briefly exceeded $100 in early trading and closed at almost double its initial offering price
Affirm Holdings started trading on the Nasdaq under the symbol AFRM.
Photo:
Gabby Jones/Bloomberg News
By
Shares of Affirm Holdings Inc. surged in the company’s trading debut Wednesday.
The buy-now, pay-later fintech firm, trading on the Nasdaq under the symbol AFRM, jumped as high as $103 shortly after it began trading around midday, far above its initial offering price of $49. The shares closed at $97.24.
The enthusiastic reception for Affirm shares could indicate that 2021 will be similar to 2020. That was the most lucrative year on record for public offerings in terms of money raised, driven in part by the success of companies like DoorDash Inc. that have benefited during the pandemic from the stay-at-home economy.