Please use graphs and/or tables to support your discussion and cite any references.

Please explain in detail and provide the calculations.

Q5.

The share price of Afterpay has increased from $8.90 on March 23, 2020 to $75.05 on July 21, 2020. Use the top-down approach to investment analysis to try to explain why the share price has increased by this amount. Do you think the increase in valuation is justified based on some of the financial ratios covered in FIN 223? You can find financial information on Afterpay at :

https://www.afterpaytouch.com/investor-centre