Affirm (NASDAQ:AFRM) stock is falling on Tuesday after Walmart’s (NYSE:WMT) One launched its buy now pay later (BNPL) service at the retail giant’s stores.
With this comes the addition of a One kiosk during checkout at Walmart. This lets users choose between Affirm or One when deciding on the BNPL loan that they want to take out.
This is interesting as Walmart is the majority owner of One. It’s a sign that the retail giant wants to consolidate other services, such as BNPL, into a single brand. This would also be a warning that Affirm may not remain the retailer’s partner once One reaches more customers.
Jason Mikula, a former Goldman Sachs consultant, said the following about this news to CNBC:
“I have to imagine the goal is to have all this stuff, whether it’s a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart’s physical footprint.”
How This Affects AFRM Stock Today
Shares of AFRM stock are down slightly alongside the Walmart and One news. One thing that might be offsetting a larger decrease is its expansion into elective medical care.
Trading today has some 2.1 million shares moving as of this writing. That’s still below its daily average trading volume of about 8.6 million shares.
Investors who are seeking out even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Tuesday! Among that is what’s going on with shares of Tesla (NASDAQ:TSLA), Greenwave Technology Solutions (NASDAQ:GWAV) and Abeona Therapeutics (NASDAQ:ABEO) stock today. All of that news is available at the following links!
More Tuesday Stock Market News
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- Why Is Greenwave Technology Solutions (GWAV) Stock Down 47% Today?
- Why Is Abeona Therapeutics (ABEO) Stock Down 45% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
