Nasdaq: Why Affirm Stock Lost 36% in January

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What happened

Shares of Affirm Holdings (NASDAQ: AFRM) were taking a dive in January, tracking with a broader sell-off in high-priced growth stocks and payments stocks. There was no company-specific news out on the buy now, pay later (BNPL) specialist, but fears over rising interest rates and inflation seemed to push it lower.

According to data from S&P Global Market Intelligence, Affirm stock fell 36% last month. As you can see from the chart below, the stock fell steadily over the course of the month before a recovery at the end of January.