Shares of the buy-now, pay-later (BNPL) company Affirm (NASDAQ: AFRM) fell nearly 13% in August, according to data provided by S&P Global Market Intelligence .
The reason for the decline largely had to do with the company's earnings report during the month but also as market sentiment turned bearish.
Affirm reported a net loss of $0.65 per diluted share on total revenue of $364.1 million for 2022's fourth fiscal quarter, ending June 30. Earnings missed analyst estimates for the quarter, while revenue beat.
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Here's Why Affirm's Stock Fell 13% in August