Buy Now Pay Later Dominates Payment Processing in 2023

$AFRM $UPST $PYPL $V $AXP $DFS

It’s been an interesting year in the payment processing space, with the buy now pay later centric operators grossly outperforming traditional credit card processors.

I’m skeptical of how this ultimately plays out, but it’s difficult to ignore this rounding bottom that appears to be playing out in AFRM 0.00%↑. The AVWAP from IPO is just around the $40 mark, and that would be the level I might consider a tactical trade on the long side. This is the type of name I’d almost exclusively play in-between earnings, not holding through any report.