Why I sold all my Afterpay (ASX:APT) shares: fundie

Afterpay Ltd (ASX: APT) shareholders have had a rough time recently.

The stock is down 26% in the past month even after a 9% rally Wednesday morning taking it to $116.33.

And the same morning saw news of US fintech giant Paypal Holdings Inc (NASDAQ: PYPL) starting its own buy now, pay later (BNPL) service in Australia from June.

Investors had flocked to Afterpay shares in an almost cult-like way in the past couple of years. And they’ve enjoyed an excellent run — the Afterpay share price started 2019 at the $12 mark, then started last year around $30. Last month it peaked at $160.

But unfortunately, after a long bull run, it seems some are losing faith.

Monash Investors principal Simon Shields is one.

“We sold out completely…