Business
The Afterpay (ASX:APT) share price rocketed 300% higher in 2020
The Afterpay Ltd (ASX: APT) share price was the best performer on the S&P/ASX 200 Index (ASX: XJO) in 2020 by some distance.
In fact, the payments company’s shares recorded a gain of 303%, which was more than double that of the next best performer – the Kogan.com Ltd (ASX: KGN) share price with a 150% gain.
Why did the Afterpay share price quadruple in 2020?
Investors were buying Afterpay’s shares for a number of reasons in 2020.
One of those was the company’s exceptionally strong performance during the pandemic. There were fears that the crisis would cause a spike in bad debts and a collapse in sales. However, those fears couldn’t have been any more wrong.
Instead, Afterpay benefited greatly from the accelerating shift…
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