Affirm's 2.58% Slide Coexists with 43% GMV Jump and 120th Volume Rank

Affirm (AFRM) closed on September 5, 2025, , , . The stock ranks 120th in trading volume among U.S. equities. Despite the recent pullback, Affirm has shown resilience, , exceeding expectations. , , reflecting strong operational execution.

Analysts have upgraded Affirm’s outlook, with 19 “Buy” ratings and 11 “Hold” ratings from 30 Wall Street analysts. , . The stock’s consensus rating of “Moderate Buy” underscores confidence in its profitability turnaround and expanding market share. CEO highlighted “exceptionally strong” performance, noting record metrics despite losing a key customer to rival .

Affirm’s strategic focus on international expansion, including launches in the U.K. and plans for Europe, positions it to capture broader growth opportunities. The company’s ability to manage delinquencies amid rising interest rates has also bolstered investor sentiment. However, its high-beta profile and volatility remain risks for conservative investors.

To set up an accurate back-test I need to pin down a few details that aren’t completely specified yet: 1. Market universe • U.S. common stocks only (NYSE / NASDAQ / AMEX) – is that what you have in mind? • Any liquidity or price filters besides “top 500 by dollar volume”? 2. Ranking and execution timing • “Top 500 by daily trading volume” – should the ranking be based on the same day’s volume and then we buy at that day’s close, or do we buy next day’s open (to avoid look-ahead bias)? • Positions are held one full trading day and then closed – should the exit be next day’s close or next day’s open? 3. Weighting and transaction costs • Equal-weight across the 500 names, or weight by volume / market-cap? • Assume zero transaction costs, or apply a commission/slippage figure? 4. Portfolio-level back-test • Our back-testing engine can aggregate multiple tickers into an equal-weighted “basket,” but I’ll need to construct daily signals for all constituent stocks. Just confirming that’s acceptable. Once I have these points confirmed I can generate the retrieval plan, pull the data, calculate the daily signals, and run the portfolio back-test from 2022-01-01 through today.