The Motley Fool

Why Afterpay Touch Group Ltd (ASX:APT) is at the top of the S&P/ASX 200 gains

Payment gateway company Afterpay Touch Group Ltd (ASX: APT) is sitting pretty at the top of the S&P/ASX 200 gainers today, with its shares up 7.7% to $21.21 at the time of writing.

Afterpay has been labelled a reporting season hero after its FY18 result revealed revenue rose 391% to $142.3 million with EBITDA up 463% to $33.8 million.

Afterpay went into a temporary trading halt on August 23 after the announcement of its UK expansion plans to acquire a 90% interest in Clearpay for 1 million Afterpay shares with $117 million raised via institutional placement at $17.05 per share.

Investors are clearly keen to rally behind the company to kick off the trading week, after its return to trade on Friday saw its share price lift 24% to $23 during the day’s trade.

Other S&P/ASX 200 stocks to watch on the gains list today include IDP Education (ASX: IEL) – up 4.8% to $11.27 at the time of writing following on from its August 23 announced FY18 results and Platinum Asset Management Limited (ASX: PTM) – up 6.3% to $5.72.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.


Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Platinum Investment Management Limited. 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.