Affirm Shares Plummets 0.54 as $450M Volume Slides to 247th in U.S. Rankings Amid Macroeconomic Headwinds

Affirm Holdings (AFRM) closed on September 18, 2025, . , , ranking it 247th in volume among U.S. equities. This marked a notable reduction in market engagement for the digital finance provider.

The reduced liquidity suggests potential shifts in investor sentiment or broader market dynamics affecting the sector. Analysts highlighted that Affirm’s performance could be influenced by macroeconomic factors, including evolving consumer credit trends and regulatory developments in the fintech space. However, specific catalysts for the decline were not outlined in available reports.

Back-testing frameworks for Affirm’s stock require precise parameters to evaluate historical performance. Key considerations include defining the market universe—whether U.S.-listed stocks or a narrower index—and establishing . Assumptions around daily rebalancing, transaction costs, and data coverage will shape the accuracy of the analysis. A comprehensive back-test from 2022 to 2025 would necessitate robust data integration and signal construction to assess long-term viability.