The Afterpay Ltd (ASX: APT) share price is finally catching a break on Thursday, bouncing 3.49% higher to $102.46.
Two weeks on from the Apple announcement
It’s been a little over two weeks since the headlines that Apple was developing its own BNPL service.
However, the selling pressure continues to linger, with the Afterpay share price tumbling 3.60% to $99 on Wednesday.
The Wednesday decline was off the back of above average trading volume, with almost 1.5 million shares changing hands compared to Afterpay’s 10-day average of approximately 1.05 million shares.
What’s driving the Afterpay share price on Thursday
Afterpay shares might be taking Wall Street’s lead after the Nasdaq Composite posted a solid 0.70% gain overnight.
The tech-heavy Nasdaq managed to run higher despite the Dow Jones Industrial Average and S&P 500 edging 0.36% and 0.02% lower respectively.
Encouraging, Afterpay’s major US competitor, Affirm Holdings Inc (NASDAQ: AFRM) managed to post a 2.82% gain to US$61.18 as well.
The broader BNPL sector is also bouncing higher on Thursday, with the large cap players taking charge.
The Zip Co Ltd (ASX: Z1P) share price is up 5.49% to $6.91.
While Sezzle Inc (ASX: SZL) is also posting a 2.39% gain to $8.15.
Despite a small victory today, the Afterpay share price is still down 4.05% this week and down 13.96% year-to-date.