The Buy Now, Pay Later (BNPL) sector has shown remarkable resilience, with Affirm and Sezzle posting impressive Q2 earnings that contributed to a flat performance for the Connected Economy (CE) 100 index for the week ending August 30. Affirm's stock surged by 40%, while Sezzle saw a 6.5% increase. MongoDB also made headlines with a 17.4% rise in share prices after reporting a 13% year-over-year revenue growth of $478.1 million, driven by its focus on AI integration and modernization of legacy systems. Porch Group, a platform for homeowners insurance, experienced a 7.5% increase following its own positive earnings report. However, the week wasn't without its challenges; PDD Holdings, despite reporting an 86% revenue growth, saw its stock plummet by 31.3% due to a weak outlook. Vroom's stock also dropped 16% as it announced plans to stop buying and selling vehicles. Overall, the BNPL sector's strong performance stands out amidst mixed results.
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