10 Stocks Defy Monday’s Market Optimism

7. Affirm Holdings Inc. (NASDAQ:AFRM)

Affirm Holdings declined by 4.23 percent on Monday to end at $47.96 each following news that Swedish Buy Now Pay Later (BNPL) firm Klarna Group would unseat AFRM as the exclusive provider of installment loans at retail giant Walmart.

In a statement on Monday, Klarna, an AI-powered payments and commerce network, said that it would partner with OnePay, a leading consumer finance app, to exclusively offer installment loans for purchases at Walmart in the United States.

AFRM has been Walmart’s BNPL exclusive provider since 2019.

According to Klarna, the change will be made gradually. OnePay will start integrating Klarna installment loan options into Walmart’s checkout in the coming weeks across all Walmart channels.

Meanwhile, AFRM said in a statement that it will continue with its long-term strategy of competing on its products and entering into sustainable partnerships.