Why Affirm Holdings (AFRM) Soared Last Week?

We recently published a list of 10 Firms That Soared Last Week. In this article, we are going to take a look at where Affirm Holdings, Inc. (NASDAQ:AFRM) stands against other firms that soared last week.

Last week saw volatile trading in the stock market as investors scrambled to react from a series of positive and negative catalysts which sparked buying and selling positions across the board.

On Friday alone, Wall Street’s major indices fell into the red territory over renewed fears of growing trade tensions from some of the world’s largest economies, coupled with expectations of a higher inflation rate.

However, 10 firms defied a broader market slump, posting impressive gains in just a week’s trading.

To come up with last week’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

An entrepreneur launching her new brand on the company’s platform, looking confident and joyful.

Affirm Holdings, Inc. (NASDAQ:AFRM)

Affirm Holdings, Inc. (NASDAQ:AFRM) grew its share prices by 23 percent in just a week’s trading, ending Friday at $75.22 apiece, with investor sentiment said to be fueled by the company’s strong earnings performance in the second quarter of fiscal year 2025.

In its earnings release last week, Affirm Holdings (NASDAQ:AFRM) reported a net income of $80.36 million during the last quarter, reversing a net loss of $166.9 million in the same period a year ago.

Revenues also jumped by 46 percent to $866 million from the $591 million reported year-on-year.

Investors also took path from AFRM CEO Max Levchin’s bullish outlook for the company this year, saying that AFRM is only five months away from turning the firm to profitability.

“But it should be apparent to a casual observer that we are nearly there today—mark it zero,” he said.

Affirm Holdings, Inc. (NASDAQ:AFRM) is a technology services company providing financial services to shoppers and merchants.

Overall, AFRM ranks 9th on our list of firms that soared last week. While we acknowledge the potential of AFRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as AFRM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.