Business
ASX ‘poster child’ Afterpay leapfrogs Telstra – afr.com
Afterpay has cemented its status as growth star on the Australian sharemarket, overtaking Telstra to become the 13th-largest stock by market capitalisation.
“A lot of people see this is a market that can fund your growth and that’s the story here. We’ve never been more confident about the Australian tech scene.”
The performance of Afterpay over the past 10 months has been extraordinary after shares dropped to a low of $8.01 on March 23, in the midst of the COVID-19 sell-off.
Its strong rebound has been supported by its inclusion in both the S&P/ASX 50 and S&P/ASX 20 indices in December.
Ophir Asset Management senior portfolio manager Andrew Mitchell. James…
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