When it comes to investing in fintech companies and the financing concept of BNPL — buy now, pay later — Affirm still comes to top of mind. Plus, Affirm stock made more than a nifty comeback in 2023. When interest rates jumped sharply since the spring of 2022, the fintech investing theme crumbled that year.
This consumer lender's stock is up a lot in the past year, but there's one big reason I wouldn't buy it today.
Prudent investors should stick to the game plan in 2024. That means that they should continue to find overpriced stocks to sell of companies that look fundamentally unsound. This may seem harder to do in 2024 as it looks like rate cuts will soon come. The point here is that cheaper money will soon be available and that will make some less than desirable firms look strong again. Those firms could very well see their shares rise but shrewd investors need to stay the course and ignore any such acti