Cramer On Affirm IPO: Investors Are Buying Into Fintech, Period

On CNBC’s “Squawk on the Street” Wednesday, Jim Cramer and David Faber discussed the IPO of Affirm, which is now trading on the Nasdaq as "AFRM."

The stock is trading at twice its $49 IPO price at last check. 

When Cramer introduced Max Levchin, the co-founder and CEO of Affirm, he said the stock's price action would directly correlate with how the people perceive what Levchin has to say about his company later on the show.

“Max will come on, people will like it, the stock will go up. I wish there was more soul to it, but that’s life on Wall Street,” the CNBC host said. 

“I don’t mean to downgrade it, Max is great. People don’t care. If it’s fintech, buy.”

The same applies to Bitcoin and cryptocurrencies, Cramer said, adding that if Levchin comes on the show and says he likes Bitcoin, the price of BTC will rise.

“That’s the world right now that we’re in, and everyone likes it! Why not? Makes a lot of money,” Cramer says.

Affirm shares were trading 104.56% higher at $100.23 at last check. 

Photo courtesy of Affirm. 

Posted In: CNBCJim CramerMax LevchinSquawk on the StreetFintechMoversTechMediaTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.