When Klarna was listed on the stock exchange in New York on September 10 this year, the subscription price was set at $40 per share.
When Wall Street closed on Tuesday, the share was down to $36.65. Over the last five trading days, the share has fallen by around 14 percent.
Sensitive to statistics
Klarna's decline may be partly due to the fact that the subscription price was set high, according to Bloomberg's analysts.
But it's not the whole explanation, because even competitors in consumer credits are falling back. Affirm's share, for example, has fallen by around 13 percent during the same period.
According to the analysts, one explanation is that companies offering consumer credits are extra sensitive to statistics that can affect the US central bank Fed not to lower interest rates. This also applies to Klarna, since the US is one of the company's largest markets.
In recent days, some such data has come from the US, at the same time as parts of the government apparatus are shut down when politicians have not managed to agree on the budget.
Poorer car sales
On Tuesday, figures for September showed the lowest consumer confidence in the US economy in five months. Consumers are worried about both job prospects and the economy as a whole.
At the same time, other signals are coming, including that the sale of used cars has decreased, which creates concern in the market that the payment ability of already weak households has deteriorated further. This can in turn mean higher credit losses for financial companies.
