Affirm stock rockets after company lands partnership with Target

Shares of Affirm Holdings Inc.
AFRM,
+15.10%
are up more than 14% in Wednesday afternoon trading after Target Inc.
TGT,
-0.35%
announced that it would begin allowing customers to make purchases with the company’s buy-now pay-later technology. The arrangement with Target isn’t exclusive, as Target is also introducing capabilities from Sezzle that will let customers pay for goods in installments. Affirm shares have been hot in recent months as the company announced a partnership with Amazon.com Inc.
AMZN,
+0.94%

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and outlined plans to move beyond the checkout button. Affirm plans to launch a debit card that will let consumers split purchases after the fact, and it also intends to let customers own crypto assets in their Affirm savings accounts. Shares have gained 89% over the past three months as the S&P 500
SPX,
-0.16%
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has dipped 0.8%.

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