Afterpay (APT) shares back over $100
Afterpay (APT) +7.28%
Moved back over $100 a pop today on 1st quarter numbers that impressed, $4.1b sales in the quarter is more than double the $1.9b in 1Q20 with millennials accounting for a significant portion of the 98% active customer growth. North America remains the main frontier for the BNPL sector – Afterpay had 6.5m active US customers at the end of the quarter, up almost 1m in the period though this was light on to many estimates in the market. Earnings still remain negative, though they are “trending towards lower gross losses.” We are heading into a bumper season for the BNPL sector – Christmas trade combined with a significant boost to online sales due to COVID restrictions sets up for a perfect storm for Afterpay and its peers. We are looking to ride the momentum, but prefer Zip Co at current levels
Afterpay Chart (APT) Chart
