From SMH
The mystery of Afterpay Touch's sudden drop this morning has been solved - the company was calling analysts to let them know they are ready for whatever recommendations are in the report expected on Friday from the Senate Economics References Committee's inquiry into the Credit and financial services targeted at Australians at risk of financial hardship.However, this just reminded the analysts that the report is coming up. (There has been a fair bit going on among banks and lenders lately and the report may have slipped their minds.)
Afterpay Touch shares fell from $19 to $17 within 20 minutes at about 11.15am. They have ended the day slightly higher at $17.42.
As one analyst tells us, today's drop will soften the blow if there is adverse recommendations on Friday.
