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Confirm Doubles After Starting Trading Despite Strong IPO Pricing – TechCrunch



Today, shares in Affirm, a buy-now-pay-later unicorn, began trading over $ 90 per share. share, well above its $ 49 per share.

Pop comes after Affirm raised its price range earlier in the week to $ 41 to $ 44 per share. Stock, up from an initial range of $ 33 to $ 38 per share. Shares. Seeing the company double from its rising price implies a strong demand for its shares, a thin float or both.

Affirm’s explosive debut comes on the heels of similarly strong results from DoorDash, C3.ai and Airbnb. The debut of these companies was so strong that Roblox delayed its IPO and later switched from a traditional IPO to a direct listing to get around the price issue.

Today̵

7;s IPO shows that the same dynamics that were at play in these IPOs are sustained in 2021. Several public debuts are expected in Q1, including Coinbase, another well-known unicorn. Other names like Robinhood, Bumble and others are in the wings.

The first day’s performance of the confirmation will certainly raise eyebrows from regular critics of the traditional IPO process. But the company raised more money than it might have expected, and has a hefty first day of trading, so it’s hard to worry too much about the company. If the stock price is still as high in a month as it is today, it was perhaps as undervalued as some would argue.

Fintech

Affirm’s pricing brings a green splash to a busy week for fintech giants. Yesterday, Visa’s $ 5.5 billion acquisition of Plaid failed due to regulatory concerns. While the fallen deal could have a cooling effect on fintech startups, Plaid TechCrunch said it saw 60% customer growth in 2020, bringing it to more than 4,000 customers. Plaids next step per. Many in the VC and tech community will be even bigger than its once-planned $ 5.3 billion dollar exit.

Some tweets here to give you a sense of momentum around fintech right now:

Affirm’s pop and Plaid’s forward-looking stance shows that the exit market for fintech feels both optimistic and energetic.




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