Walmart Stock (WMT) Rises After Dropping Affirm (AFRM)
Walmart Stock (WMT) closed out Monday’s trading session up 2.47% following its announcement of dropping Affirm for Klarna as its new “buy now, pay later” service. Affirm stock (AFRM) correspondingly fell 4.2% following the announcement, with shares dropping as much as 15.8% as the market opened. Klarna will be available via finance app OnePay at online and physical checkouts of Walmart, according to a statement on Monday. “This is a game changer,” said Klarna’s chief executive officer Sebastian Siemiatkowski. The deal gives Klarna access to the big box retailer’s millions of customers and a new avenue of expansion in the US. For Walmart, the announcement is the latest in a line of improvements the retail giant is trying to make to build on a successful 2024. Klarna is a growing platform, with the Stockholm-founded digital payments company’s revenue climbing 24% last year. With both companies coming off great years, the move was only right. Walmart and Klarna Climb Foll...