Affirm stock (AFRM) rose over 28% last Friday, Aug. 25, as markets gave a thumbs-up to the fintech firm's fiscal fourth-quarter earnings. After last week’s spike, the stock is up a cool 80% for the year - but AFRM is still way below the all-time high of $168.52 set in November 2021 as investors poured money into growth stocks, expecting the rally to continue.
Affirm went public in January 2021, and priced the IPO considerably above its pricing range at $49. It's worthwhile to note that the company had previously delayed its IPO in 2020 as both DoorDash (DASH) and Airbnb (ABNB) soared on their initial listings, and Affirm apparently did not want to leave too much on the table for its own IPO investors.
