AFTPY - Hot Stocks: AFRM SQ fall on BNPL worries; DDOG downgrade; WB fine; NEOG deal with MMM

A reappraisal of the Buy Now, Pay Later craze garnered attention during Tuesday's midday action, with an analyst comment driving down shares of Affirm (NASDAQ:AFRM) and Block (NYSE:SQ). Another analyst note prompted selling in Datadog (NASDAQ:DDOG). Worries about the impact of higher interest rates on tech valuations spurred a downgrade. Weibo (NASDAQ:WB) represented another high-profile decliner during intraday trading. News of another regulatory action from Chinese authorities weighed on the stock. Looking at one of the day's notable gainers, Neogen (NASDAQ:NEOG) jumped on a deal to merge with 3M's (NYSE:MMM) food safety business. Decliners Affirm (AFRM) dropped more than 6% in midday action as Mizuho took a cautious view of the Buy Now, Pay Later industry. The firm slashed its price target on AFRM to $140 from $180, citing potential risks from rising delinquencies for the BNPL business model. The slide also included Block (SQ), formally known as Square, which

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Hot Stocks: AFRM, SQ fall on BNPL worries; DDOG downgrade; WB fine; NEOG deal with MMM