Fintech Stock Downgraded on Increased Competition

Though shares of buy-now-pay-later name Affirm Holdings Inc (NASDAQ:AFRM) have pared some of their premarket losses, the equity remains down 1% at $64.06, after a downgrade from BTIG Research to "neutral" from "buy." The firm cited increased competition from traditional lenders such as Capital One Financial (COF) and Synchrony Financial (SYF) due to loosening underwriting standards. Headed for its third-straight daily drop, AFRM is pulling back from a rally that ended in four-month highs earlier this month. ...