NEW YORK, June 24, 2026, 12:06 EDT
- Affirm was up 9.9% near midday. Amazon Prime Day spending came in ahead of forecasts.
- U.S. shoppers spent $8.3 billion online on Tuesday, up 5.3% from a year earlier, according to Adobe.
- Buy now, pay later is expected to cover $2.04 billion in Prime Day sales.
Affirm Holdings jumped 9.9% to $78.95 late Wednesday morning after traders got the first Prime Day spending data. The update offered an early look at buy now, pay later demand, with shoppers using the loans to divide payments. Nasdaq ran on its normal schedule.
The stock started the session at $72.90 and traded up to $79.88. About 2.8 million shares changed hands, the latest market data showed.
U.S. online shoppers spent $8.3 billion on Tuesday, up 5.3% from a year earlier, according to Adobe Analytics. The jump came as Amazon Prime Day kicked off. Reuters said the spending beat Adobe’s forecasts and marked the biggest day for U.S. e-commerce in 2026 so far.
Adobe is sticking with its $26.3 billion spending forecast for the four-day event. Amazon has shifted Prime Day to June this year, running deals from June 23 to June 26 over more than 35 categories. Amazon Prime VP Jamil Ghani said it’s the company’s “biggest shopping event of the year” for Prime members. Reuters
Affirm is tied into the event since Amazon gives shoppers the option to use Pay Over Time with Affirm on Amazon.com purchases above $50. So Prime Day will show whether people pick financing for bigger buys instead of paying everything up front.
Mixed signs from shoppers. William Stern, CEO at small-business lender Cardiff, told Reuters ahead of the event that budgets are tight: “People just don’t have the cash right now.” EMarketer analyst Sky Canaves told Reuters people are still being careful, watching for sales and timing their buys. Reuters
The buy now, pay later share matters for Prime Day. EMarketer, using Adobe numbers, said pay-later will account for $2.04 billion in Prime Day spending. That’s a 5.5% increase from last year and makes up 7.8% of total sales.
Affirm is one of several firms in the U.S. installment-credit space, joining Block’s Afterpay, PayPal and Klarna. According to Federal Reserve economists, U.S. buy now, pay later players handled about $156.7 billion in credit in 2025. Affirm accounted for $41.3 billion, while Afterpay’s number was $53.7 billion.
Affirm’s latest quarterly numbers set a stronger platform for Prime Day trades. In the fiscal third quarter to March 31, gross merchandise volume came in at $11.6 billion, up 35%. Revenue reached $1.039 billion, also up 33%, and net income was $103 million. The company said it now has 26.8 million active consumers and 515,000 active merchants.
Funding is also in focus. Affirm said June 4 that CPP Investments renewed and increased a 24-month forward-flow deal, putting in $1.7 billion for Affirm installment loans, with the option to go up to $2.2 billion. “One of our most valued capital partners,” Affirm operating chief Michael Linford said of CPP. Affirm Holdings, Inc.
Affirm’s trade could lose steam if Prime Day demand slows after day one, if shoppers stick to lower-priced essentials, or if credit losses keep climbing. Affirm reported 30-day-plus delinquencies, excluding Peloton and Pay in X loans, hit 2.8% in the March quarter. Its allowance for credit losses increased to 6.0% of loans held for investment. The company’s latest filing pointed out that how much of its consumer loans are collected depends on the economy and markets.
