$415 million sugar hit for the underdogs as Afterpay investors cash in
- BNPL companies add $415 million to their collective value on Afterpay acquisition news.
- Zip Co surged $376 million in value, while Sezzle added $23 million & Humm gained $16 million on Afterpay’s acquisition news.
- Square acquiring Afterpay for $39 billion is the largest acquisition in Australian history.
Australian buy now pay later companies added a collective $415 million to their total value on the back of Square’s $39 billion offer for Afterpay.
Without lifting a finger, Zip Co increased 9% or $376 million in market value on Aug. 2, while Sezzle added $23 million and Humm gained $16 million.
Square’s $39 billion acquisition of Afterpay is the largest in Australia’s history.
THE WEEK AHEAD
TUE | 10th August | 1130 AEST
National Australia Bank Business Confidence (July)
Did Australian business conditions continue to fall in July as lockdowns and border restrictions were reintroduced around the country?
WED | 11th August | 1030 AEST
Australia Westpac Consumer Sentiment (Aug)
Are consumers optimistic about economic activity in August despite the growing Delta strain of COVID-19 spreading around the nation?
WED | 11th August | 2230 AEST
U.S. Core Consumer Price Index (CPI) (MoM)
The forecast expected the cost of consumer goods and services to fall in July, will the price be right or did inflation continue to rise in July?
THUR | 12th August | 1600 AEST
U.K. Gross Domestic Product (GDP) (QoQ)
Did the health of the U.K. economy continue to deteriorate in the second quarter as the rate of infections from the Delta strain of COVID-19 surged and travel restrictions were imposed by neighbouring European countries?
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