Stocks Down Under 28 May 2020: AfterPay, Bellevue Gold, Hotel Property Investments
AfterPay: Reached our $50 target. Where to from here?
As our readers will know, we at Stocks Down Under are very bullish on the Buy Now, Pay Later (BNPL) space. Last year we called a share price target for AfterPay of $50. On 26 May, the shares finally hit that target after COVID-19 temporarily spoiled the party. Following the low point of the Corona Crash on 23 March, when AfterPay bottomed around $8.30, the shares have bounced back remarkably, to the point where they are now trading at a level that could be interpreted as a psychological hurdle for many investors. The question is: What to do with AfterPay shares at these levels?
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