Affirm’s stock explodes higher after expanded Amazon arrangement

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Affirm’s stock explodes higher after expanded Amazon arrangement
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Emily Bary is a MarketWatch news editor based in New York.

Affirm Holdings Inc. shares AFRM, +16.01% were powering 16% higher in Thursday morning action after Amazon.com Inc.

announced that it would make Affirm the first buy-now-pay-later provider offered at checkout on its Amazon Business platform. “The technology, ease of integration, and ability to support a broad range of transactions—especially as Affirm is already used by millions of Amazon customers today—make this a natural extension of our larger partnership,” Todd Heimes, the director of Amazon Business Worldwide, said in a release. Amazon Business is a business-to-business procurement store.

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