I can think of many scenarios in which APT is barely impacted. Maybe COVID blows over as quickly as it did in China in the rest of the world. Maybe retail closures are offset by increases in online shopping. Maybe APT only grows 50% this year, but goes back to its previous growth rates in 2021 as the virus fears dissipate. Maybe tons of people choose BNPL in these tough times and are bailed out by the governments' helicopter money. Maybe they just weather out a bad year with reserves and go back to regular growth mode in 2021, 2022, 2023+.
I'm not saying all of any of these will happen, but the market right now is treating the stock as if it's going out of business with a high probability. Imo way too many potential bad news are being priced in with very little optimism for the future right now.
