Online lender Klarna Group (KLAR) made its market debut this morning, with the stock opening at $52, firmly above the initial public offering (IPO) price of $40 per share. Buzz around the "buy now, pay later" company's first session is weighing on fintech peers, with Upstart Holdings Inc (NASDAQ:UPST) and Affirm Holdings Inc (NASDAQ:AFRM) shares facing pressure.
Upstart Stock Could Snap Win Streak
UPST is down 10.4% at $61.75 at last check, on its way to snap a four-day win streak. While the equity still sports an 83.7% year-over-year lead, it has shaved 21% in the last nine months. Shares are now testing support at the $60 region which contained losses in August on a pullback off their highest level since February.
Upstart stock is getting attention in the options pits today, with 129,000 calls and 93,000 puts traded so far, which is triple the volume typically seen at this point. The most active contract is the weekly 9/12 63-strike put, where positions are currently being opened.
Affirm Stock Takes a Breather
AFRM was last seen down 4.9% to trade at $84.09, on track for its third daily loss in four sessions. The stock has added 39.2% so far in 2025, but is now taking a breather from an Aug. 29, three-year high of $100. A new layer of support is seemingly emerging at $80, while the 20-day moving average has been guiding
the shares higher since late April.
Options traders lean bearish toward the equity, per its 50-day put/call volume ratio of 1.19 at the International Securities (ISE), Cboe Options (CBOE) and NASDAQ OMX PHLX (PHLX) sits higher than 95% of annual readings.
