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Financial News: Affirm's accidental tweet hurts

Financial News:

Affirm's accidental tweet hurts

Affirm Accidental Tweet

Affirm's stock dropped 26% after the business unintentionally disclosed its own earnings on Twitter hours ahead of time. Before the tweet, they were up 10%.

The corporation made the decision to release its entire results report before the markets closed. An automated circuit breaker momentarily interrupted trading before it resumed. According to the report, sales for the quarter increased by 77 percent year on year to $361 million, with a net loss of $159.7 million compared to $26.6 million in Affirm's second fiscal quarter last year. Investors appeared to be particularly concerned about the prognosis for the third quarter and the whole year.

Photo: Affirm shares tumbled after it accidentally tweeted its earnings. The "buy now, pay later" company’s fiscal second-quarter results were leaked ahead of time.

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    Content ID: 1644572845 Created Friday, February 11, 2022 9:47 AM UTC by Aaron Stipkovich, Updated Friday, February 11, 2022 1:00 PM UTC by Aaron Stipkovich.