Fintech's Affirm, Paypal sink as stocks pull back from massive tariff pause rally

Ahead of the market rally on Wednesday, Evercore ISI analyst Adam Frisch initiated coverage of Affirm with an Outperform rating and a $50 price target when shares were trading at around $37. Affirm closed Wednesday at $44. Affirm led the rebound on Wednesday. The buy now, pay later firm closed Wednesday up nearly 22%, clawing back steep losses from earlier in the week. Shares plunged after the initial tariff news rattled growth stocks and sparked fears of a consumer spending slowdown. But the rollback, combined with an upbeat analyst note, helped flip the narrative. The sector still faces longer-term risks, from rising hardware costs to small business credit exposure and macro uncertainty. While the administration simultaneously escalated duties on Chinese goods to 125%, markets took the broader delay as a sign that Washington may soften its stance — at least temporarily — on the more disruptive elements of its trade agenda. "Call us crazy for going into the eye of the storm with a ... Read full article.