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29/01/20
21:27
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Originally posted by flyhigh744:
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This is kind of getting to the point I was trying to make. While I'm a believer in Afterpay, I can't think of any reasons that would justify why the share price has been driving higher over the past fortnight. The only two reasons I can think of (and I think these are a bit of stretch) is that proxy indicators are suggesting Afterpay had a massive December-quarter. The other is the GS report that came out earlier this month that may also have been the catalyst for this drive (but bear in mind that were was no change in price target - more of a reiteration). This is why I take huge comfort in seeing the regular business updates. It plugs the news gap and, for me personally, renews confidence in the increasing share price. In the continued increase in share price but in the absence of these updates, if there any downside surprise, the sell-off is amplified because the news comes as more of a shock (at least from what I've read, I haven't really gotten the impression of any any cautious undertones in Afterpay's announcements). This is more of a rant really (sorry) but I guess I was just really hoping to see a business update soon.
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If there were no AUSTRAC auditing request and UBS $17 price target, APT would have hit $40 before Xmas (based on its latest business update). So in my opinion, this is not a no-reason price jump but simply sp on the way back to where it should be.