Affirm Stock Drops 8% After Hours, Erasing About $2 Billion in Market Cap
As seen on the 24/7 Wall St. homepage on August 28, 2026.
Down 8% to $79.20 from an $86.13 open, a single-session reset that lops roughly $2 billion off a $22.9 billion market cap. Whether the $86 level gets reclaimed is the next thing to watch.
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Affirm shares slid to $79.20 in after-hours trading on August 28, a decline of roughly 8%. Moves in extended hours, where volume is thinner and spreads are wider, tend to carry more weight than the same percentage drop during the regular session.
The retreat wiped approximately $2 billion from Affirm's market cap. For a growth-oriented fintech, swings of this size can reset the narrative around the stock for days or weeks afterward.
Shares held near $80 for the first half of after-hours trading before accelerating lower, touching the $77 range and recovering slightly to close near $79.20. Sellers remained in control even after the initial drop.
The immediate question for investors is whether $86 can be reclaimed when regular trading resumes. If it cannot, the open price from this session becomes a near-term ceiling of resistance rather than a floor, which changes how traders are likely to position heading into the next regular session.
Sources
Mentioned: AFRM