Afterpay chose not to reveal details of the much anticipated interim report on its compliance with anti-money laundering and counter-terrorism financing laws on Wednesday,but the market could not have cared less.
The S&P/ASX 200 ended Monday's session less than one point higher as a falling gold price weighed on miners of the safehaven commodity.
High prices in Australia's technology sector boosted the stock market as recession fears emerge in Europe.
Afterpay has dismissed the threat of of an influx of competition from rivals as investors bet it can grow faster in offshore markets such as the United States than it has in Australia.
Afterpay's senior executives face a hit to their bonuses if there are adverse findings from an external audit over its compliance with money laundering laws
Afterpay rival Zip Co rattled investors after it admitted that competition was heating up to the point that new entrants were using aggressive financial measures to enter the market which has lead to margin compression.
The buy now pay later company Zip has beaten market expectations with its surprise result,which came just days after it revealed global expansion plans.
Afterpay rival Zip Co says its $NZ66 million acquisition of Auckland-based PartPay gives it a global growth strategy in a sector where international scale is becoming a necessity.
Afterpay rival Zip Co has gone on a buying spree to establish an overseas presence that might help it bridge the $5 billion valuation gap with the buy now,pay later leader.
Little did we know it at the time but,Comyn and CBA were already planning to cross the digital divide,defy 107 years of history and join the disrupters.
Stock market experts have been warning of a tech bubble for years,but this time it’s different say the doomsayers.