Klarna shares plunge 51% YTD amid credit concerns, while BNPL peers rally.

Klarna's stock has fallen 51% this year, contrasting with gains by BNPL peers Sezzle and Affirm. The decline stems from company-specific issues, including lowered revenue and transaction volume forecasts, and credit risk concerns tied to Klarna holding consumer credit on its balance sheet. Despite recent losses, Klarna showed solid second-quarter growth in transaction margins and U.S. revenue, suggesting potential for recovery. Upcoming earnings and holiday season performance will be key to watch for signs of stabilization or further declines.

While Klarna's stock has dropped 51% this year, its BNPL peers show different trends on Pluang. As of Sep 16, 2026 02:21 WIB, Sezzle trades at USD 119.81, down 1.23% for the day. Affirm is priced at USD 72.23 with a 1.57% decrease on the same day, reflecting varied investor sentiment in the sector.