Affirm Tweets & Deletes…And Then Pukes

An intern at Affirm has likely seen better days, after tweeting “Another great quarter in the books…” Which really wasn’t a total lie. They did have a great quarter, just not particularly what investors were looking for.

Although even with a decent quarter, Affirm posted a wider loss this quarter, mainly because of stock-based compensations. Affirm also didn’t have the greatest guidance and shrinking margins.

“Affirm’s strong growth accelerated this quarter, reflecting the key advantages of our superior technology, and commitment to putting people first,” said Max Levchin, Founder and CEO of Affirm. “We more than doubled gross merchandise volume year over year. Over the last 12 months, we have added nearly seven million active consumers to our network, while enabling 168,000 merchant partners to better serve their customers.”

The best part of the story, is the nuclear price action that ensued throughout this whole fiasco. The stock was trading at a high of $83.57 intra-day on Thursday, before absolutely it absolutely puked, closing at $58.49. What a time to be alive.