Affirm the buy now pay later company, saw a 21% drop in their share price as they accidentally tweeted out their results before the appointed time.
It seems to be a social media disaster for the company and they are currently seeing the impact of it. Before the event, the company was enjoying a 7% rise in share price and the stock was trading at approximately $82 per share.
After the “accidental” tweeting of the company’s second-quarter results, it drops to approximately $54 per share. The company went public in 2021 and has been trading at a 60% decrease in price at the time of writing. The second-quarter net loss stands at $159.7 million. Operating loss stands at $196.2 million.
The company saw a drastic increase in both net loss and operating loss respectively, a year ago they recorded a $26.6 million net loss and $26.8 million in operating loss a year earlier. Revenue rose to $361.0 million which is up from $204.0 million a year prior.
The company tried to clean up the publicity mess by admitting that it was indeed a mistake on their part.
