It’s no secret the Afterpay Ltd (ASX: APT) share price has had some magnificent days on the ASX. Hence why it’s a favourite among many investors.
But when would you say was Afterpay’s shares’ best day ever?
Some might think it was 2 August 2021 when Afterpay and Square Inc announced they were to merge. Or, perhaps, it was way back when the market was only just cottoning onto Afterpay’s potential as many investors did on 19 July 2018.
However, they’d be wrong. The Afterpay share price’s best day ever was actually spurred by…. nothing. Seriously. On Afterpay’s best day ever on the ASX, the company hadn’t released a single piece of price-sensitive news for nearly a month. Oh, and did I mention, it came in the middle of a recession?
Keep reading on to find out more.
Afterpay’s best day on the ASX
The Afterpay share price’s best day on the ASX was Wednesday, 25 March 2020.
On Tuesday, 24 March 2020, Afterpay’s shares finished the day trading for $11.21. Then, on 25 March 2020, they closed at $15.00. That’s a whopping 33.81% gain.
Interestingly, the best day ever for Afterpay shareholders came only days after the company’s worst day ever. That was on March 18 2020 when Afterpay’s shares fell from $18.40 to $12.76 – or by 33.05% – for no obvious reason.
While The Motley Fool Australia had some theories as to why the Afterpay share price was soaring at the time, we couldn’t have predicted what would come next.
Over the 12 months following 25 March 2020, the Afterpay share price gained a massive 603% to reach $105.46.
Perhaps the lesson might be that hard financial times, like those visited on the ASX with the onset of COVID-19, tend to trigger volatility.
However, as Afterpay’s CEO and managing director Anthony Eisen told shareholders when Afterpay’s shares were at their lowest point in years, companies that are ready for tough times are more likely to push past them.
Afterpay share price snapshot
The Afterpay share price’s growth has slowed since early 2020. However, it’s still moving forward.
It has gained 11% year to date. It’s also 60% higher than it was this time last year.
Currently, shares in the buy now, pay later giant are going for $133.00 a piece.
The post When was the best ever day for the Afterpay (ASX:APT) share price? appeared first on The Motley Fool Australia.
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More reading
- The Afterpay (ASX:APT) share price fell 14% last time the company reported
- Afterpay (ASX:APT) share price rallies 3% ahead of this week’s earnings
- ASX 200 Weekly Wrap: Miners drag ASX back to earth
- August has been a great month so far for the Afterpay (ASX:APT) share price
- Afterpay (ASX:APT) share price edges higher as ‘Afterpay Day’ kicks off
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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