Afterpay Touch Group Ltd (ASX:APT) shares hit all-time high ahead of Afterpay Day

It has been another great day for shareholders of payment solutions company Afterpay Touch Group Ltd (ASX: APT).

The Afterpay Touch share price climbed as much as 9% higher to an all-time high of $16.42 on Wednesday before closing the day 8.5% higher at $16.38.

This brought Afterpay Touch’s year to date return to a staggering 174%.

Why did Afterpay Touch’s shares storm higher today?

With no news out of the company or broker notes that I’m aware of, the catalyst for today’s gain appears to be a bit of a mystery.

However, it is worth noting that tomorrow is Afterpay Day. Similar to Amazon’s Prime Day, Afterpay Day is a one-day sales event where a number of stores that offer the Afterpay service also offer some serious discounts.

Investors may be expecting this year’s event to capture the imagination of consumers and lead to even more customer additions.

Which have already been impressive so far this year. At its last update the company advised that it had 2.2 million active customer accounts on its platform being serviced by over 16,500 retailers.

Should you invest?

Even though Afterpay Touch’s shares are at an all time high I would still be tempted to pick up a few shares if your tolerance for risk is high enough.

This is because although a significant amount of growth has been built into its shares already, if it can replicate its Australian success in the U.S. market then today’s share price could one day prove to be cheap.

However, it is always worth remembering what could happen if its growth fails to materialise as expected. Shares such as A2 Milk Company Ltd (ASX: A2M) and Ltd (ASX: KGN) have all fallen heavily this year after delivering strong but not quite strong enough growth.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk and AFTERPAY T FPO. The Motley Fool Australia has recommended ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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