Afterpay Ltd (ASX:APT) is the owner of the popular “buy now, pay later” app. Afterpay has over 9 million registered users worldwide, making it one of Australia’s true technology success stories. Afterpay is trying to emulate its outstanding success in Australia by expanding its reach into the UK, using the ‘Clearpay’ brand name, and into the USA, where it has signed major social influencers to endorse its service.
The Afterpay Touch Group Ltd (ASX:APT) share price has crashed 18% at the end of the ASX trading day.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 0.07% at lunch.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 1.91% at lunch.
I would shy away from putting more than 10% of my money in a blue chip like Telstra Corp (ASX: TLS) let alone invest 20%+ in an early stage tech company like Afterpay Touch Group Ltd (ASX: APT).
