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3 ASX shares of the week

Sebastian Bowen
eye, look, see

Well, another week has come and gone and we have seen some interesting things in the meantime on the ASX. The S&P/ASX 200 (INDEXASX: XJO) index started the week at 6,606 points, but finished yesterday at 6,649.7 points, a rise of 0.66%.

Here are 3 ASX shares that caught my eye this week.

Afterpay Touch Group Ltd (ASX: APT)

Afterpay once again makes the cut this week, but this time it’s for all the wrong reasons. A broker slapping a strong sell on Afterpay shares first gave investors the wobbles. But that was before a report on Friday that the Reserve Bank of Australia is investigating the BNPL company really tanked the shares.

In a rollercoaster of a week, APT shares started at $35.99 on Monday, made a fresh new-all time high of $37.41 on Tuesday (no, this isn’t a Craig David song) before finishing the week at a two month low of $29.57, down 17.84%, week-to-date.

Zip Co Ltd (ASX: Z1P)

Zip Co also makes the list for its staggering tumble this week. It’s likely that Zip was just dragged down on the back of Afterpay’s woes, but that’s cold comfort for investors who were kneecapped by Z1P’s tumble. Z1P shares dropped from $5.79 on Monday to $4.38 by Friday afternoon – a skydive of 24.35%.

Challenger Ltd (ASX: CGF)

To end on a high note, Challenger shares had one of their best weeks of the year so far. CHF shares started Monday off at $6.95 but ended up finishing the week at $7.77 – a rise of 11.8%

The catalyst for this rise was Challenger’s first quarter update, which was released to the market on Wednesday. The update confirmed that the company has seen a 3% lift in funds under management, while also reaffirming the company expects to bank between $500 million and $550 million in net after tax profits in FY20.

Foolish takeaway

It’s been an interesting week on the ASX, with new highs and lows being made. If Boris Johnson’s new Brexit deal can pass and Donald Trump’s trade war continues its ceasefire, we might be in for a ripper week next week. But, nothing’s certain in life or the stock market, so let’s wait and see!

The post 3 ASX shares of the week appeared first on Motley Fool Australia.

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Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Challenger Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019