2024-04-09 18:15:28 ET
Summary
- Affirm's stock has fallen 33% since the start of the year, correcting from a triple-digit growth in 2023, but far away from pandemic's valuation.
- The company's operating losses cover half of its revenue and seems too far away from profitability, while displaying an elevated PS ratio.
- High take-rates, potential prudence bias, and well-financed competition are other aspects that support the sell rating.
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Affirm Holdings: Hard To Win Against Block, PayPal And Klarna, Amid Substantial Losses