Affirm’s stock quintupled this year, beating all tech peers, on buy now, pay later boom

A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value.

Affirm investors are wrapping up 2023 in a much different mood.

The stock skyrocketed 430% in 2023, as of Wednesday’s close, outperforming all other U.S. tech companies…