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Why are Afterpay shares falling?

The stock closed over 4% lower to kickstart the week.

  • Afterpay (ASX: APT) share price closed 4% lower on Monday (11 October)
  • The buy now, pay later (BNPL) stock has received a rating of ‘buy’ from 11 out of 18 analysts
  • Shares rallied at the end of last month of the back of two new announcements
  • Keen to take advantage of Afterpay’s falling share price? Open an account with us to short the stock now.

Afterpay stock price analysis: what’s the latest?

Afterpay shares fell as much as 4.33% on Monday, as stocks lowered on the back of weaker-than-expected US jobs data for the month of September.

Shares hit an intraday low of A$117.66, before closing at A$117.87 a share.

The S&P/ASX 200 was down by nearly one percentage point during the morning session, mirroring Wall Street’s softer finish last Friday.

The US Labour Department’s non-farm payrolls report showed that jobs growth slowed to its lowest in September 2021, amid worker shortages.

The BNPL stock, which is down nearly 5% in the last one month, has a majority rating of ‘buy’ from 11 out of 18 brokers, based on the latest analyst data published by Market Index.

Analysts also gave an average price target of A$118.82 on APT, which represents a slight upside potential from Monday’s closing price.

Read more: Beginner’s guide to day trading

Why did APT shares rise at the end of last month?

Last month, APT shares rose sharply after its money and lifestyle app, called Money by Afterpay (Money), launched a new feature called Afterpay Retro.

Afterpay Retro allows customers to retrospectively create a pay-in-4 from any eligible Money debit transaction.

The self-proclaimed ‘world-first’ feature can be used by customers for up to A$200 of their Afterpay overall available-to-spend amount - from any eligible retailer regardless of whether they usually accept Afterpay.

For example, customers with an Afterpay spending limit of A$1,000 can use up to A$200 for Retro purchases and the remaining A$800 for any other BNPL purchases if they choose to do so.

As part of the Money by Afterpay offering, all Retro purchases follow Afterpay’s No Payment Up Front format, meaning the first payment is due two weeks after the purchase date.

The APT counter also rallied after it announced a new partnership with US e-commerce platform, Fashion Nova. Customers of Fashion Nova now have the option to pay with Afterpay at checkout in four interest-free installments.

Feeling bearish or bullish about Afterpay shares?

Take your position on Afterpay and over 13,000 Australian and international shares via CFDs or share trading – and trade it all seamlessly from one account.

Learn more about share CFDs or share trading with us, or open an account to get started today.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

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