{"id":11507,"date":"2021-02-17T01:35:56","date_gmt":"2021-02-17T01:35:56","guid":{"rendered":"https:\/\/economicherald.net\/?p=11507"},"modified":"2021-02-17T01:35:56","modified_gmt":"2021-02-17T01:35:56","slug":"zip-other-bnpl-companies-in-retreat-after-strong-gains","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11507","title":{"rendered":"Zip, other BNPL companies in retreat after strong gains"},"content":{"rendered":"<p>Who could have seen this coming?<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/zip-co-z1p\/\"><strong>Zip Co<\/strong> (ASX:Z1P)<\/a> has fallen more than 10 per cent in morning trade after double-digit gains the past two days, while several other buy now, pay later companies are also in the red.<\/p>\n<p>Shortly before noon, Zip was down 13.6 per cent to $12.02, \u00a0<a href=\"https:\/\/stockhead.com.au\/company\/sezzle-szl\/\"><strong>Sezzle<\/strong> (ASX:SZL)<\/a> was down 12.1 per cent to $10.11 and\u00a0<a href=\"https:\/\/stockhead.com.au\/company\/afterpay-apt\/\"><strong>Afterpay<\/strong> (ASX:APT)<\/a> had fallen 6.2 per cent to a two-week low of $144.02.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/fatfish-blockchain-ffg\/\"><strong>Fatfish<\/strong> (ASX:FFG)<\/a>, whose shares nearly tripled yesterday to close at 27c, fell 25.9 per cent to 20c.<\/p>\n<p>Zip shares, which traded for around $5 for most of December and January, have taken off in the past few days, <a href=\"https:\/\/stockhead.com.au\/tech\/zip-soars-to-new-ath-fatfish-doubles\/\">hitting an all-time intraday high of $14.53 yesterday<\/a>.<\/p>\n<p>The rally may have been in part because of the market was re-rating its valuation compared to Afterpay \u2013\u00a0 but some traders also saw a speculative mania at work.<\/p>\n<p>$Z1P has run 150% to 200% in 1 month on nothing. <a href=\"https:\/\/twitter.com\/hashtag\/RBA?src=hash&amp;ref_src=twsrc%5Etfw\">#RBA<\/a> thinks they are not making bubbles\u2026.what a joke! <a href=\"https:\/\/twitter.com\/hashtag\/BNPL?src=hash&amp;ref_src=twsrc%5Etfw\">#BNPL<\/a> makes <a href=\"https:\/\/twitter.com\/search?q=%24NEA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$NEA<\/a> look normal. <a href=\"https:\/\/twitter.com\/hashtag\/markets?src=hash&amp;ref_src=twsrc%5Etfw\">#markets<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/investors?src=hash&amp;ref_src=twsrc%5Etfw\">#investors<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/asx?src=hash&amp;ref_src=twsrc%5Etfw\">#asx<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/traders?src=hash&amp;ref_src=twsrc%5Etfw\">#traders<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/daytrader?src=hash&amp;ref_src=twsrc%5Etfw\">#daytrader<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/investing?src=hash&amp;ref_src=twsrc%5Etfw\">#investing<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/trading?src=hash&amp;ref_src=twsrc%5Etfw\">#trading<\/a> <a href=\"https:\/\/t.co\/RUsxZppod1\">https:\/\/t.co\/RUsxZppod1<\/a><\/p>\n<p>\u2014 Aus Equity Flash (@EquityAus) <a href=\"https:\/\/twitter.com\/EquityAus\/status\/1361599622414618628?ref_src=twsrc%5Etfw\">February 16, 2021<\/a><\/p>\n\n<p><a href=\"https:\/\/twitter.com\/hashtag\/BNPL?src=hash&amp;ref_src=twsrc%5Etfw\">#BNPL<\/a> Going nuts!<br \/>\n$Z1P adds another $1B cap on no news <br \/>\nNow $7B cap!<\/p>\n<p>Flipping nuts!<\/p>\n<p>\u2014 Ron Shamgar (@RonShamgar) <a href=\"https:\/\/twitter.com\/RonShamgar\/status\/1361161901443477513?ref_src=twsrc%5Etfw\">February 15, 2021<\/a><\/p>\n\n<p>Shares in <a href=\"https:\/\/stockhead.com.au\/company\/ioupay-iou\/\"><strong>IOUpay<\/strong> (ASX:IOU)<\/a>, another BNPL company whose shares have taken off in the last few days, were in a trading halt for a capital raising.<\/p>\n<p>The other ASX BNPL companies haven\u2019t really participated in the huge rally of the last few days and their shares were mostly just down modestly this morning. <a href=\"https:\/\/stockhead.com.au\/company\/laybuy-lby\/\"><strong>Laybuy<\/strong> (ASX:LBY)<\/a> was the outlier, rising 2.2 per cent to $1.42.<\/p>\n<p><strong>Zip, Fatfish, Afterpay, Sezzle, IOUpay, Laybuy shares<\/strong><\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span><span class=\"mce_SELRES_start\"><\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/tech\/zip-other-bnpl-companies-in-retreat-after-strong-gains\/\">Zip, other BNPL companies in retreat after strong gains<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Who could have seen this coming? Zip Co (ASX:Z1P) has fallen more than 10 per cent in morning trade after double-digit gains the past two <a href=\"https:\/\/economicherald.net\/?p=11507\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11508,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Zip, other BNPL companies in retreat after strong gains - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11507\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zip, other BNPL companies in retreat after strong gains - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Who could have seen this coming? 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