200% Gain on Afterpay Investment. 

United States-based hedge fund Lone Pine Capital has hit a $56 million jackpot in profits on Afterpay.  This firm made returns of over 200 percent on a $27 million investment in Afterpay shares.  Its total proceeds exceeded $80 million in just a few months.  Its investments were scattered across four funds — Lone Cascade, Lone Sierra, Lone Spruce, and Lone Redwood.  The average price floated between $18 and $19 per share.  

Afterpay — an Australian financial technology company — is now worth over $20 billion and has proven fruitful for investors.  In June, the company rose by 224 percent.  Many fund managers are eyeing this stock, though it could be a risky and divisive investment.  

Luckily for Lone Pine Capital, many of its investors will benefit from the $56 million profit.  Lone Pine Capital currently has $16.8 billion in assets under management.  The firm is betting on other companies like Amazon, Paypal, alnd Atlassian.  Lone Pine is a hedge fund headquartered in Greenwich, Connecticut.  It has offices in New York City and San Francisco.