Daily Price Movement / General Discussion, page-45528

BNPL in the US not looking too good either. Plus all the class actions Affirm has for stuffing up and releasing results early on twitter. Hope we don't follow this dog down even further down but we probably will.



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Affirm Holdings Files for Mixed-Securities Shelf

AFRM35.82−8.39%

Affirm Holdings (AFRM) on Thursday registered with the US Securities and Exchange Commission for the shelf offering of various securities.

The filing covers class A common shares, preferred shares, debt securities, depositary shares, warrants, purchase contracts, guarantees and units.

Proceeds may be used for purposes stated in the applicable prospectus supplement, according to the company.

The filing also covers the potential resale of securities by some holders, the financial technology firm said, but the company will not receive any proceeds.

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Affirm Holdings Shares Fall After Mixed-Securities Shelf Filing, Secondary Offering

AFRM35.82−8.39%

Affirm Holdings (AFRM) shares were down more than 8% in Friday afternoon trading following a mixed-shelf filing alongside a secondary offering by a security holder.

The shelf covers class A common and preferred shares, debt securities, depositary shares, warrants, purchase contracts, guarantees and units, according to its regulatory filing.

Separately, it also said that an investor may resell up to 22 million Class A shares.

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Bronstein, Gewirtz & Grossman, LLC Notifies Affirm Holdings, Inc. (AFRM) Investors of Class Action and Encourages Investors to Contact the Firm

March 04, 2022 10:49 ET -

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Affirm Holdings, Inc. ("Affirm" or "the Company") (NYSE: AFRM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Affirm securities February 11, 2021, and February 10, 2022, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/afrm.

This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that Affirm's Tweet was materially false and misleading because it contained only selected metrics from the Company's second quarter 2022 financial results, which caused investors to believe that the Company had performed better than it actually did. The complaint continues to allege that the Tweet omitted material details, including that Affirm's quarterly loss was $0.57 per share, which was necessary in order to make the statement made not misleading.