Affirm, the market leading specialty finance and BNPL service provider, saw its share price surge this past week following fresh economic data from Cyber Monday. The firm’s stock benefitted from an extended rally following a ratings upgrade and data release indicating that this year, more price-conscious shoppers used BNPL for Cyber Monday purchases. Per Reuters, U.S. BNPL spend reached an all-time high on Cyber Monday, with over $940 million in online volume, this up 42.5% from last year. Jefferies analysts upgraded the stock to a “hold” on Tuesday, and it finished out the week up a whopping 38.95%.

Affirm Extends Rally on Cyber Monday Boost as BNPL Lending Surges