I've been watching with a huge dose of Schadenfreude. But I hope no one here is holding.
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Never held as I did not like the business model.Thought it would encourage young people to get into the habit of spending before they have earnt the money.
Pity really as KW told me to buy them at either $1.20 or $1.50....
The rest is as they say "all history."...lol.
Big Un BIG another stock KW was keen on went to zero. She had far more good picks then bad tho.
what a spread today +-30%.
Down from $40 to $9.9 !!
I got the title of this thread right. :eek2:
Disclosure: Always wanted to but never bought in.
Not what the market is saying today, over 50% in one day. Don’t hold but wish I brought some yesterday
Time to buy some AUD and be prepared to grab some of these
This is just wrong sorry.
The majority of their business comes from online which has increased in Australia, UK and United States. NZ would have completely frozen but that is a tiny part of their business. Even if countries go into lockdown they have no direct product costs so they can take a short term hit.
Of course as revenue takes a hit for retailers their growth will slow in the short term, however afterpay is in exponential growth and I actually think this presents opportunity for consolidation in the BNPL sector which as a first mover could prove beneficial to afterpay.
https://www.stuff.co.nz/business/120...-retailer-says
Seems like APT have introduced measures that mean they don't have to pay anything out until the item has been dispatched (rather than at point of payment)... Could it be that afterpay are actually facing a cash crunch themselves? Beginning of the end of them if so... not a good look when they appear to be killing their customers (aka merchants)
Big moves in APT y'day after chinese tech giant Tencent reveals its built a 5% stake in the company since started buying from March. What spectacular rise from low of $9 in late March to now at $36 as of y'day, a four increase in just over a month.
Disc-Not a holder, just wondering how many these types of buying we'll witness from Chinese under current depressed asset price levels.
Continually misrepresented and misunderstood APT going from strength to strength, attracting world class tech investors along the way (Matrix Partners, Coatue, Tencent etc)
eCommerce is going gangbusters since everyone is now stuck at home, of which Afterpay will be a beneficiary. Even more so, since people will be more budget focused (Afterpay is used as a budgeting tool.)
They'll likely weather the economic downturn just fine thanks to small outstanding balances, and automated payments (although to be confirmed next report.)
This has been such a Peter Lynch stock, seeing Afterpay logos popping up everywhere over the last couple years.