AFRM stock tumbles: Klarna eats Affirm’s lunch with Walmart BNPL deal ahead of buzzy IPO

This morning, news broke that the fast-credit fintech company Klarna has deposed its competitor Affirm as Walmart’s exclusive provider of “Buy Now, Pay Later” (BNPL) loans.

Affirm stock (AFRM) dove over 10% Monday morning following the news, before regaining some of those losses. Shares are currently down around 5% as of this writing.

According to a press release published this morning, Klarna will be partnering with Walmart’s majority-owned fintech startup, OnePay, “to exclusively...