What happened
Affirm's stock surged after the company issued a strong outlook. CEO Max Levchin said high gas prices are hitting U.S. shoppers. The national average price for gas is $4.09 per gallon and was last below $3 on March 2.
Why it matters
The strong outlook suggests Affirm is performing well, but the CEO's remarks indicate that elevated gas prices are affecting consumer behavior, which could have broader implications for the economy.