Affirm CEO Max Levchin goes one-on-one with Jim Cramer

Core Viewpoint - A firm Holdings, a buy now pay later company, reported strong earnings but has seen its stock price decline due to consumer concerns despite positive retail performance and recent interest rate cuts by the Federal Reserve [1][2][3] Company Performance - A firm Holdings achieved a 12-cent earnings beat on an 11-cent basis with significantly higher than expected revenue [1] - The stock initially surged over 11% to a high of approximately $79 but has since fallen back to around $65, indicating market skepticism about consumer spending [2] Consumer Insights - The CEO of a firm Holdings, Max Lechin, emphasized the importance of effective underwriting to avoid late fees and hidden charges, aligning the company's interests with consumers [5][17] - The company has successfully served 20 to 40 million Americans without charging late fees or revolving interest, showcasing a different approach to consumer credit [8] Market Trends - Recent data indicates a 47% year-over-year growth in travel during the holiday season, with Gen Z showing a 75% increase in travel spending [27][28] - There was significant growth in 0% loans during Black Friday and Cyber Monday, with over 70% year-over-year growth, indicating consumers are looking for interest-free borrowing options [30][31] Expansion Plans - A firm Holdings is expanding into the UK market, viewing it as a significant opportunity following successful operations in North America [23][25] - The partnership with Revolve is seen as a strategic move to enhance their presence in the UK, leveraging their existing success in Canada [24][25]