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markets

Affirm Stock Opens 86% Above IPO Price

By
Ross Matican
· · Source: The Information

Shares of commercial lender Affirm soared in early trading Wednesday, opening at $90.90 and climbing as high as $103. Affirm’s opening price was 86% higher than its $49 initial public offering price, a first-day pop that raises the question of whether its stock was underpriced. Affirm’s opening price implies a market capitalization of $22 billion, representing a 661% premium to its $2.9...

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