Shares of several companies in the broader financial technology sector, including Affirm Holdings Inc (NASDAQ:AFRM), are trading lower following a rise in US Treasury yields, which has pressured growth sectors.
The 10-year Treasury yield hit an intraday high of 1.686% Tuesday morning before dipping to around the 1.663% level. Overall market volatility is persistent during Tuesday’s session as investors continue to weigh omicron concerns.
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Affirm offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. The firm generates its revenue from merchant networks, and through virtual card networks among others. Geographically, it generates a major share of its revenue from the United States.
Affirm has a 52-week high of $176.65 and a 52-week low of $46.50.