Affirm Holdings Inc (NYSE:AFRM) shares are trading higher Monday. The stock appears to be getting a boost from elevated Cyber Monday expectations.
What To Know: According to a Reuters report citing data from Adobe Analytics, Cyber Monday online sales are now expected to reach record levels of $12 billion to $12.4 billion, which is well above initial expectations.
The midpoint of the range would represent an 8% increase year-over-year, above Adobe’s initial forecast for about a 6.1% jump.
The report indicates that Salesforce also predicted that online sales on Cyber Monday will rise in the high-single-digit percentage range.
According to Benzinga Pro, “Buy Now, Pay Later” is expected to see usage hit an all-time high on Cyber Monday, contributing $782 million in online spending, up 18% year-over-year.
Affirm offers a platform for digital and mobile first commerce, consisting of a point-of-sale payment solution, merchant commerce solutions and a consumer-focused app.
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AFRM Price Action: Affirm shares were up 4.84% at $27.50 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Affirm.
