Shopping trolley is seen in front of Affirm logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Shares of Affirm Holdings Inc tumbled 11% in morning trading on Friday after the buy-now-pay-later lender forecast full-year revenue below Wall Street estimates, underscoring the broader downturn in the fortunes of the once high-flying fintech sector.
Rising rates, geopolitical turmoil and a sector-wide sell-off in high-growth technology stocks have together hit investor sentiment, leading to billions being shaved off the company's market cap with shares down nearly 70% so far this year.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
