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.
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