Business
Here’s why the Afterpay (ASX:APT) share price is surging 9% higher today
The Afterpay Ltd (ASX: APT) share price has returned to form on Wednesday.
In morning trade, the payments company’s shares are up 9% to $116.74.
Why is the Afterpay share price charging higher?
There have been a couple of catalysts for the strong gain by the Afterpay share price on Wednesday.
The first is a very strong performance by US tech stocks overnight after bond yields pulled back.
This led to the tech-heavy Nasdaq index having its best day in four months. It recorded a sizeable 3.6% gain after investors took advantage of recent weakness to snap up tech giants such as Amazon, Apple, and Tesla. In addition to this, rival buy now pay later provider Affirm saw its shares jump 7% overnight.
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