Why Afterpay (ASX:AFY) is one of Cyan's top small-cap picks.
This morning the recently listed Afterpay (ASX:AFY) announced its first quarter results with all metrics (merchants, end-customers, merchant sales and, importantly, fees to AFY) up over 100% in the June quarter. Even before today's announcement, the stock had risen more than 60% since its ASX debut in early May 2016. Subtly, the company mentioned a successful in-store trial of the Afterpay product that we believe has the potential to be an industry game-changer and all but eliminate competing consumer funding options such as lay-by and Flexirent for lower priced products. Whilst the company is yet to post a profit, their interest-free 'buy now - pay later' product is experiencing substantial demand from customers and on-line stores alike and we see little reason why this wont continue to drive the share price higher.
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Dean has over 25 years experience in the funds management industry covering all major asset classes. He holds as Master of Applied Finance and is a Graduate of the Australian Institute of Company Directors.
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Dean has over 25 years experience in the funds management industry covering all major asset classes. He holds as Master of Applied Finance and is a Graduate of the Australian Institute of Company Directors.
Expertise
Dean has over 25 years experience in the funds management industry covering all major asset classes. He holds as Master of Applied Finance and is a Graduate of the Australian Institute of Company Directors.
Expertise
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