Australia's Afterpay set for longest losing streak in over two months

Asia Pacific Telecom Co

18/11/2020 03:27

** Buy-now-pay-later (BNPL) firm Afterpay  APT.AX  is
heading for third straight session of losses, its longest run in
over two months 
    ** APT down 1.6% to A$94.41, having fallen as much as 3%
earlier 
    ** Promising news from separate COVID-19 vaccine trials by
Pfizer  PFE.N  and Moderna  MRNA.O  has halted charge of one of
pandemic's stand-out stocks
    ** This week also saw Australian regulator call out the
sector on number of missed payments by users, though refrained
for asking for regulation  urn:newsml:reuters.com:*:nL1N2I20HV
    ** APT is down nearly 9% so far this week, having climbed
more than 10 times since March 
    ** Smaller rivals Zip Co Ltd  Z1P.AX , Sezzle  SZL.AX  and
Laybuy Holdings  LBY.AX  also fell between 0.5% and 1.7%  
    ** At its AGM on Tuesday, APT said November was tracking
ahead of record underlying sales in October in a
seasonally-strong quarter

 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))