All was looking brighter than expected for fintech company Affirm (AFRM) after it reported fiscal third-quarter earnings this morning — it saw revenue skyrocket by over 51% annually and narrowed its losses per share — until its stock made a U-turn intraday. Affirm shares have fallen by as high as 10% in Wednesday's session. Who or what is to blame? Possibly Shopify (SHOP), according to analysts.

Market Domination Anchors Julie Hyman and Josh Lipton deep dive into these two stocks that are finding themselves under pressure after reporting earnings.

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This post was written by Luke Carberry Mogan.

Video Transcript

Time now for some of the day trending tickers.A firm reporting a beat on third quarter revenue forecast for the fourth quarter topped expectations, but worries from shop five surprise net loss dimming Wall Street sentiment on the buy now pay later stocks.This was interesting, Julie, because all right, so they turned in a good report, the Q four revenue guide that beats consensus.They offered 585 to 605 Street Was it IV three Stock has been a roller coaster was higher.Turned lower.Comment from the street is positive.Analysts saying results very strong, GMV better than expected.But I know you talked or checked in with some analysts who maybe gave us a good clue as to why we're we're in the red.I was confused.And so I reached out to two friends of the show, uh, David Cini over at Wedbush, as well as Dan Dole of Mizuho, who we spoke to also about Robin Hood the other day.And both of them pointed the finger at Shopify as saying that this was the reason why we're seeing a firm down.Um, and Dola pointed out that, um, you know there's a partnership between the two and that.Shopify accounts for something like 10% of, um, a firm's gross merchandise volume, that people who are buying via Shopify sites or people who use Shopify on the back end use a firm as their buy now pay later some of them.And so that's why people sort of extrapolated.He thinks that that move is overdone.Um, but still, I mean, he's he's a bull, he is a bull.But we'll see if the, you know, if the street, uh, agrees.Obviously, today they do not, and we've got the shares selling off.