Sezzle was more of a fizzle today as the entire tech sector slumped.
The post The Sezzle (ASX:SZL) share price plummeted 8% today appeared first on The Motley Fool Australia. –
The Sezzle Inc (ASX: SZL) share price is in free fall today. At the close of trade, shares in the US-based Buy Now, Pay Later (BNPL) provider ended at $8.96 – down 8.38%. It’s not the only tech-focused company having a rough day on the market.
Afterpay Ltd (ASX: APT) is down 5% and Kogan.com Ltd (ASX: KGN) is 3.1% lower. The S&P/ASX All Technology Index (ASX: XTX) lost 2.38% of its value over the day. In fact, the entire market wasn’t so hot today. The S&P/ASX 200 Index (ASX: XJO) ended the day down 0.93%.
Let’s take a closer look.
Why Sezzle was a fizzle
Australian markets tend to follow on from developments in the US. As Motley Fool’s own Scott Phillip’s says “When America sneezes, Australia catches a cold.”
As you can gather, shares in America fell overnight. By close of trade, the tech heavy NASDAQ Composite fell 0.72%. Not as steep as our tech sectors fall, to be sure.
The Sezzle share price has been quite volatile over the last month. It’s reached a high of $9.59 and a low of $8.01 in that time. A 20% range in a very short space of time.
Sezzle share price snapshot
While Sezzle shares are in the red today, they’ve been in the green since the beginning of the year – and greatly so. Its shares are up 43% since the first trading day of this year, an impressive return on investment.
Sezzle has a market capitalisation of $928 million.
Should you invest $1,000 in Sezzle right now?
Before you consider Sezzle, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sezzle wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of May 24th 2021
Got Sezzle (ASX:SZL) shares? What’s in store for FY22?
Here are the top 3 performing ASX BNPL shares of FY21 – and they’re not Afterpay
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Sezzle Inc. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.