Insights

The Zip (ASX:Z1P) share price is zooming higher once more

The party is continuing for Zip and its BNPL peers.
The post The Zip (ASX:Z1P) share price is zooming higher once more appeared first on The Motley Fool Australia. –

The Zip Co Ltd (ASX: Z1P) share price is gaining again today despite no news having been released by the company since late last month.

However, the buy now, pay later (BNPL) sector has been having a roaring week’s trade after Afterpay Ltd was handed a $39 billion takeover offer.

Right now, the Zip share price is 3.6% higher than its previous close. Shares in the BNPL provider are trading for $8.04 a piece.

That’s particularly impressive considering the S&P/ASX 200 Index (ASX: XJO) is just 0.35% higher, while the All Ordinaries Index (ASX: XAO) has gained 0.33%.

Let’s take a closer look at how Zip’s shares have been moving this week.

What’s up with Zip?

The Zip share price is among many ASX-listed BNPL shares having a great week.

Afterpay’s takeover offer, proposed by US financial services giant Square Inc, reinvigorated the BNPL sector which had previously been flat or struggling.

In fact, this week is the first time the market has seen large movements from Zip shares since the March tech selloff.

It’s spurred the Zip share price to gain between 7% and 9% every day this week. That’s led to a massive 18.98% boost since Monday.

Additionally, the Afterpay share price is now 32.48% higher than it was at Friday’s close.

At the same time, Sezzle Inc has gained an impressive 10% this week. Openpay Group Ltd is also 12% higher while Splitit Ltd has increased a whopping 26% since Monday.

Zip share price snapshot

The Zip share price’s gains this week have broken it out of an ASX slump.

It is now 40% higher than it was at the start of the year. It has also gained 25% since this time last year.

The company has a market capitalisation of around $4.4 billion, with approximately 562 million shares outstanding.

The post The Zip (ASX:Z1P) share price is zooming higher once more appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Afterpay share price keeps climbing. RBA surprisingly bullish. Scott Phillips on Nine’s Late News

What happens to my Afterpay shares in the Square takeover?

5 things to watch on the ASX 200 on Wednesday

ASX 200 drops, Afterpay jumps again, Credit Corp rises

Top broker gives its verdict on the Zip (ASX:Z1P) share price

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Square, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!