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Why Is Affirm Plunging on Monday?
The stock market was having a so-so day on Monday, with the Dow Jones Industrial Average slightly higher and the S&P 500 and Nasdaq Composite indexes lower by less than 1% as of 2:15 p.m. EDT. In fact, the only major news item specific to Affirm is an analyst increasing its price target. A couple of weeks ago, Affirm jumped more than 40% in a day when it announced a partnership with Amazon, and the stock soared again last week after better-than-expected earnings from the fintech company.