This payment solutions company is expected to grow at triple-digit rates in the next five years.
Afterpay Limited (APT.AX)
From Cabot Global Stocks Explorer
The Explorer portfolio had another positive week, as the market is hostage to enacting another politically difficult stimulus package. Count me as skeptical. Stay-at-home stocks are leading the market while economic-recovery stocks struggle. Most overseas markets rose yesterday but Hong Kong’s Hang Seng Index was the one exception. That followed reports that the Trump administration is discussing potential curbs to digital payment platforms developed by Chinese tech companies Tencent Holdings and Ant Group on the grounds of national security.
Afterpay Limited shares bumped up to 84 this past, week building on momentum from announcing an expansion into Canada as well as partnership agreements in Spain and Italy. This company is revolutionizing the retail payment industry by effectively enabling interest-free loans at a growing number of retailers.
Founded in Australia in 2017, Afterpay has seen heady growth, with revenue zooming from $23 million in 2017 to $218 million in 2019. The company has quickly captured almost 10 million active customers and has 55,000 retailers participating in its network. I suggest you purchase shares, which trade on the Australian Securities Exchange. BUY A HALF.
Carl Delfeld, Cabot Global Stocks Explorer, cabotwealth.com, 978-745-5532, October 8, 2020