In today's video I look at fundamentals, financial metrics, and recent news for Affirm (AFRM 0.85%). On July 13, Affirm's stock price dropped after reports that Apple (AAPL 0.31%) is working with Goldman Sachs (GS 0.38%) to create a buy now, pay later service that rivals Affirm. Below I share a few highlights from the video.
- On June 10, Affirm services became available to all Shopify (SHOP -0.69%) merchants in the U.S. Affirm exclusively powers Shopify Pay installments.
- During the earnings call on May 10, Affirm reported a solid third quarter and raised its outlook for its fiscal year 2021 due to a substantial year-over-year gross merchandise volume growth of 83%.
- On May 3, Affirm completed the acquisition of Returnly, a leader in online return experiences and post-purchase payments. It seems Affirm's leadership is trying to broaden its market from just a buy now, pay later service to have more solutions for the e-commerce market.
*Stock prices used were the closing prices of July 13, 2021. The video was published on July 13, 2021.