{"id":11554,"date":"2021-08-02T01:53:08","date_gmt":"2021-08-02T01:53:08","guid":{"rendered":"https:\/\/economicherald.net\/?p=11554"},"modified":"2021-08-02T01:53:08","modified_gmt":"2021-08-02T01:53:08","slug":"score-check-asx-bnpl-sector-gets-in-the-afterpay-slipstream","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11554","title":{"rendered":"Score check: ASX BNPL sector gets in the Afterpay slipstream"},"content":{"rendered":"

Zip Co (ASX:Z1P)<\/a> has led the morning gains in Australia\u2019s listed BNPL sector, following the marquee acquisition announcement<\/a> by Afterpay (ASX:APT)<\/a>.<\/p>\n

The deal news provided a jolt for other stocks in the space, with steady gains across the board. <\/p>\n

Here\u2019s the ASX BNPL state of play at 11am EST, after one hour of trade:<\/p>\n

\n
<\/div>\n

CODE COMPANY PRICE ($) INTRADAY RETURN % MARKET CAP APT Afterpay 119.51 23.6% $27,994,999,391 Z1P Zip Co Ltd 7.22 8.7% $3,732,579,707 SZL Sezzle Inc 7.4 2.6% $747,736,367 SPT Splitit 0.495 7.6% $214,453,483 OPY Openpay Group 1.175 4.0% $119,699,829 HUM Humm Group 0.965 3.2% $463,075,877 LBY Laybuy Group 0.445 3.5% $109,418,746 ZBT Zebit Inc. 0.99 0.0% $93,645,531 PYR Payright Limited 0.48 5.5% $31,020,343 IOU Ioupay Limited 0.215 7.5% $110,282,413 <\/p>\n

<\/div>\n<\/div>\n

WordPress Table Plugin<\/a><\/p>\n

ASX BNPL \u2014 around the grounds <\/h2>\n

Investors sent APT shares straight back to the ~$120 level after they closed last week at $96.66 \u2014 a possible indicator that the market thinks Square Inc\u2019s offer of $126.21 per share has a good chance of getting over the line.<\/p>\n

Zip Co, which as of Friday was the most shorted stock on the ASX, jumped out of the blocks with a gain of more than 10% before easing back slightly.<\/p>\n

Last month, the company announced that Bank of America had upped its stake in the business \u2014 a move which increased its voting interest in Zip Co to 7.45%.<\/p>\n

BNPL platform Splitit (ASX:SPT)<\/a> also posted a morning gain of more than 8%. <\/p>\n

However, at this morning\u2019s trading price of 50c, the stock is still well off its February high of $1.50 before co-founder Alon Feit sold 13,300,000 shares on-market at $1.47, for a nominal return of $19,551,000.<\/p>\n

Most of the BNPL cohort reported steady gains of between 3-5%.<\/p>\n

Among them was OpenPay (ASX:OPY)<\/a>, which ran cold over the past two weeks with an RSI below 30 in the lead-up to the release of its 4C filing last week.<\/p>\n

Like Afterpay and Zip Co, the company has flagged its North American ambitions with the pending launch of Opy USA in October.<\/p>\n

US-based BNPL platform Sezzle (ASX:SZL)<\/a> edged higher by 1-2%, after sharp falls on Friday when the company released its quarterly update and a material chunk of its publicly-traded shares came out of their two-year escrow period.<\/p>\n

Another company which found some buyers in morning trade was IOUpay (ASX:IOU)<\/a>, which is looking to build out a BNPL offering in core south-east Asian markets. IOU shares rose by 7.5% in morning trade to 21.5c.<\/p>\n

The post Score check: ASX BNPL sector gets in the Afterpay slipstream<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Zip Co (ASX:Z1P) has led the morning gains in Australia\u2019s listed BNPL sector, following the marquee acquisition announcement by Afterpay (ASX:APT). 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