I have been a long term holder of stocks, and APT also. APT is still my number 1 favourite business in Australia at the moment. but I had stop losses in which all have been hit over the last few weeks. I no longer own Afterpay, and am completely in cash.
I do think that afterpay is in a strong position (as it clearly stated), and will not go bankrupt. however, I cannot see how afterpay avoids any hit to its growth rates given the current economic situation. The corona virus has only just begun to seriously impact the Us and Aus, APT's 2 biggest markets.
I plan to own afterpay again, and hopefully soon, but with the current absolute meltdown we are witnessing, I'm on the sidelines for now. I appreciate that the markets are a discounting mechanism, and that a lot is already obviously priced in, but I just cannot see this being a sudden 'V' reversal/bottom.
I also cannot fathom how 'experts' are calling the market bottom already, considering the underlying situation of the real economy and the virus. Sure, there has been some clarification around government stimulus and responses, but to me it all comes down to simple questions - technical analysis is in an insane strong down trend, and; the virus is not going away overnight.
I'm not posting to rant, or to start an argument (sorry to disappoint HotCopper folks), but curious to get everyone's opinions on all of this chaos.
either way, we are living through historic times!!
keen to hear peoples thoughts
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