How forgiving has 2020 been for stocks? Gap (NYSE:) stock is trading 22% higher than where it closed 2019. That's nearly $22 per share and a market cap of $8.2 billion for a company that expects 16% less revenue than a year ago. Could 2021 be better? It seems unlikely.
While Hollywood has yet to come beckoning with a movie proposal for its 30-year-old wunderkind, Afterpay's stellar rise will no doubt get decades-long case study attention from business and MBA courses as it crashes past Facebook-level valuations.
Afterpay, a 'buy now, pay later' payments service, has announced it is launching cross border commerce for merchant partners to open their e-commerce sites to consumers in Australia, Britain, Canada and New Zealand. The company, which is known as Clearpay in the UK, plans to open its merchant partners' e-commerce sites to US consumers next year.
In today's top news, Railsbank closed a $37 million funding deal, and companies in the U.S. and U.K. urged antitrust regulators to act fast in enforcement toward Google. Plus, Afterpay launched a cross-border payment option for merchants. UK BaaS Railsbank Closes $37M Funding Deal To Support Growth U.K.
Introduction and Scope: Global Installment Payment Solutions (Merchant Services) Market Based on highly decisive data unravelling approach braced by highly professional researchers and analysts in our teams, the Global Installment Payment Solutions (Merchant Services) Market is expected to nail a bullish growth through the growth span, 2019-25.
December is shaping up to be a busy month for tech-related initial public offerings, with Airbnb Inc. likely to be joined by DoorDash Inc., Roblox, Wish and Affirm according to reports today. Airbnb was reported to be releasing its IPO details for a December listing this week according to a report Nov.
Afterpay (ASX:APT), the leader in "Buy Now, Pay Later" payments, announced today that it has partnered with Gap Inc. to bring flexible spending to Old Navy, Gap, Banana Republic, and Athleta shoppers just in time for the holidays. Now, consumers who shop these brands online will have the option to choose Afterpay at checkout to pay in four interest-free installments.
The Afterpay Ltd (ASX:APT) share price dropped 11% just on Tuesday. Are Afterpay shares now a buy?
US tech behemoths have fallen this week but the hedge fund manager says the stocks still look attractive on valuations given their solid financials and exposure to multiple fast-growing industries. " You take the five big tech companies - Google, Facebook, Microsoft, Amazon and Apple - and they are between, depending on the company, 20 to 30 times earnings.
Each month, Sharesight highlights the top 20 stocks traded by its users in a range of global markets, and the market-moving news behind them. This article details the top 20 buy and sell trades made by SMSFs in October 2020. To find out the news behind these stocks, keep reading.
1. Good consumer news The weekly ANZ-Roy Morgan consumer confidence rating rose by 3.2 per cent - the most in 11 weeks - to a fresh 8-month high of 103.1 (long-run average since 1990 is 112.6). Sentiment is up by 57.9 per cent since hitting record lows of 65.3 on March 29 (lowest since 1973).
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
AFIA chief executive Diane Tate said the committee, which will also include a lawyer and consumer advocate, is fundamental to the credibility and effectiveness of the new code and it will have the power to impose sanctions for non-compliance. The code is being developed by AFIA with its members Afterpay, Zip Co, Flexigroup, Brighte, Klarna, Latitude, OpenPay and Payright.
"Election uncertainty is fading into the rearview mirror. Now we have this boost of investor enthusiasm after the vaccine news," said to Michael Antonelli, market strategist at Baird in Milwaukee. "All the types of companies that would benefit from us returning to a pre-COVID world are the big winners today."
Brand agency Interbrand has launched its inaugural Australian and New Zealand Breakthrough Brands report, revealing the 15 local brands set to impact their markets. The report examines rising companies that have a brand-led approach to growth and many that are seeing success on a global stage.
The renewed optimism gave the overall market a lift in Australia but, like the US, the monster boost was in stocks that were hardest and most directly hit by the pandemic. And the price spikes were further exaggerated by short sellers covering their positions.
The Afterpay Ltd (ASX: APT) share price continues to climb today, up 4.44% to $104.96 at the time of writing. This is despite differing views on the buy now, pay later (BNPL) leader from two major banks over the past week, and comes after a 3.9% rise across last week.
Technology giants including Google and Facebook are disrupting financial services by steadily moving into the banking space.
The Australian share market has jumped to its highest level in in eight months after Democrat Joe Biden was confirmed as the winner of the US presidential election. By 2:10pm AEST, the benchmark ASX 200 was up 101 points (+1.6pc) to 6,292 points.
Once again, a large number of brokerage bills came on the wires last week. Some of these notes were positive and some were bearish. Three sales reviews that caught my eye are summarized below.