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Jim Cramer - Mad MoneyAffirm HoldingsAFRMBUYNov 15, 2023

They've turned the corner. Their quarter was remarkable.

Jim Cramer - Mad Money

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$25.98

Stock price when the opinion was issued

$73.95

As of Jun 18, 2026. Market Open.

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DON'T BUY

When to buy puts?

It has a giant short position, and every time the stock goes down, the street pulls it up. The actual quarter in mid-February will probably be good. It's a sucker's game to short this.

DON'T BUY

Buy now, pay later stocks: Affirm, Upstart, Block and Paypal Upstart is down 92% from its high, Affirm 89%, Block 78% and PayPal 76%. Some of this is due to these stocks being massively massively overpriced to begin with. At peak, Affirm was trading at 30x sales (not earnings), and it won't be profitable before 2026. Block and PayPal are profitable, but were trading at sky-high multiples last year (170x PE and 65x respectively). The market hates the buy-now, pay-later stocks because they don't make money (though are well-run). He liked Upstart early on; it wasn't a buy-not,pay-later story, but helped facilitate loans using technology. But Upstart took on far more credit risk than assumed, which upset him. The business models of these stocks were far better when interest rates were low. Also, more competitors have rushed in now. The lesson: don't be caught up in euphoria. Earnings, valuations and interest rates matter.

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TOP PICK

Recently became the sole buy-now, pay-later provider on Amazon. Jim Cramer has given several BUY signals over the last few months. Social media mentions are up 31% for the past 24 hours.

BUY

The top 5 junior, next-generation growth/tech stocks: #5 Affirm: The young distrust credit cards, but embrace this fintech. The CEO vows no hidden features and total transparency.

BUY

It's been a rocket since it won the contract to be the sole operator of buy-now, pay-later for Amazon. The CEO believes the credit card companies will be roadkill. AFRM won't offer hidden charges and extort consumers with high interest rates who can't pay their bills in time, says the CEO. AFRM withstand the pandemic downturn last year. This company has a mission. It's winning big business.

BUY ON WEAKNESS

This fintech stock surged from the mid-50s in July to $148 today, but last Wednesday was hammered by hot inflation numbers and a weak quarter by peer Upstart. Shares rebounded mostly the following day after reporting a generally strong quarter. At $24 below its high, this could be trading now at a discount.

SELL

If he owned it, he'd sell it. It's tripled since May. There's competition in the space, flooding in now. And investors have priced in a lot of growth. Sell a third. DO NOT buy it. If you're aggressive, then dump it.

DON'T BUY

Buy now, pay later trend. Likes the space, as the business model is very strong. He owns SQ instead, which bought Afterpay in Australia.

BUY

They're bringing back layaway. He knew this would be huge when it partnered with Amazon over the summer which catapulted the stock. They're also working on their own debit card. It made a new high today so wait for a pullback.

BUY ON WEAKNESS

This fintech is the king of buy now, pay later. Three weeks ago, they announced a big partnership with Amazon and a good quarter. Share doubled. Last week, Walmart partnered with AFRM to replace its layaway system. But stocks are crushing growth names these names, including this. This is a high-quality stock that rarely pulls back. Last night, they announced new features and products and bullish guidance.

COMMENT

Was up 34% today, albeit an exagerrated move. It's the king of buy now, pay later. It's joined Square and Paypal as the leaders in financial payments.

TOP PICK

Provides financing for purchases over a set amount of time. Infancy in the US but in Europe, 20% of purchases use this structure. Lots of possible growth. Square paid for an Australian company that does something similar. A very attractive takeout target. (Analysts’ price target is $71.13)

BUY

He likes the CEO. If the stock doesn't rise, the CEO will sell the company.

BUY ON WEAKNESS

Yesterday he was stunned when Apple said they would enter the business of buy now, pay later that AFRM shares went down. AFRM is a great company run by a smart CEO. He'd buy at $56.

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