With interest rates settling down over the past year, the BNPL (buy now pay later) industry decided it was time for their stocks to take off once again. Industry leader Affirm Holdings (AFRM), the subject of some discussion on other forums, has seen their stock increase from the high single digits just a year ago to $50 by the end of 2023. While that stock has pulled back a bit since the start of the year, and it still has a ways to go before regaining its post-COVID highs, it shows that investors are looking for ways to tap into the rising purchasing power of the GenZ and Millenial generations and they think the BNPL market is one way to do it.
But this quick take isn’t about AFRM, but rather a smaller player also in the BNPL space. Though headquartered in Minnesota, this little company decided to first come public in Australia of all places, and only recently transferred their listing over to the NASDAQ.