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Affirm Holdings, Inc. (AFRM) stock price has dived by 16.26% today

Affirm Holdings, Inc. (AFRM) stock traded at $49.14, declining 16.26% in the current market today. Affirm Holdings, Inc. (AFRM) stock fell 21 percent on February 10, after the company announced its pre-scheduled second-quarter results, accidentally posting a tweet with some financial metrics on its Twitter handle and deleting it a few minutes later.

The tweet has the company’s financial performance, including a 77% increase in sales. Its net loss of $159.7 million widened from $26.6 million a year earlier, missing six analysts’ $100.3 million average estimates in a Bloomberg survey.

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Moreover, on FEB 10, Affirm Holdings, Inc. (NASDAQ: AFRM) reported financial results for its fiscal 2022 second quarter ended December 31, 2021. According to the CEO, over the last 12 months, the company has more than doubled gross merchandise volume year over year. The number of active traders increased from 8,000 to 168,000. While Compared to the period ended September 30, 2021, active users grew to 11.2 million, an increase of 2.5 million. At the same time,  active traders increased from 8,000 to 168,000. In addition, Shares fell 33% after the full results were released. The company posted a broader-than-expected loss per share.

Conclusion

Affirm Holdings Inc. (AFRM) is a payment network that empowers consumers and helps merchants drive growth. The company saw its shares drop as much as 33% on Thursday afternoon when it reported a third-quarter earnings forecast. According to AFRMs, strong growth accelerated this quarter, reflecting the critical benefits of advanced technology and commitment to prioritizing people.

The company’s strategy and future operations include partnerships with Amazon, Peloton, and Shopify. AFRM also outlined its outlook for the rest of the year, predicting that the company will generate approximately $1.3 billion in revenue in the fiscal year 2022.

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