The Afterpay Ltd (ASX: APT) share price is in the green today, amid a sea of red.
Right now, shares in Afterpay are up 1.25%, trading for $104.50 a piece.
That gain is particularly impressive given the broader market's struggles today.
The S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) are currently down 0.83% and 0.90% respectively.
Afterpay's shareholders will be particularly relieved the company's share price is in the green after its disastrous stint last week.
Let's take a look at what's been up with Afterpay lately.
Image source: Getty Images
On the road to recovery?
The Afterpay share price dropped 12.2% last week as news of its potentially increasing competition hit headlines.
The ASX buy now, pay later (BNPL) giant faced an incredibly grim day on Wednesday after news of BNPL services from Apple Inc (NASDAQ: AAPL) and PayPal Holdings Inc (NASDAQ: PYPL) started swirling.
First off the bat was Apple.
The technology monolith didn't officially announce anything on Wednesday. However, reports were published in the media detailing a BNPL offering being planned by Apple.
Apple is reportedly working on a new service that would allow Apple Pay users to pay for their purchases in instalments. It's said that Goldman Sachs (NYSE: GS) will fund the service.
Next, PayPal threw the Afterpay share price a curveball.
PayPal announced its BNPL service won't charge Australian users late fees.
Unlike Paypal, Afterpay charges its users $10 for missing a payment and another $7 if that payment isn't made within a week of its due date.
The Afterpay share price fell a massive 9.7% on Wednesday. It then fell another 2% and 1.3% on Thursday and Friday respectively.
Afterpay's biggest ASX-listed competitor Zip Co Ltd (ASX: Z1P) was also hit hard. It fell 14.1% over the course of the week.
Afterpay share price snapshot
Last week's disruptions did a number to Afterpay.
It's currently 11.8% lower than it was at the start of 2021. However, it's 50.8% higher than it was this time last year.
