Why the Sezzle (ASX:SZL) share price is storming 9% higher on Thursday

Sezzle’s shares are storming higher today…
The post Why the Sezzle (ASX:SZL) share price is storming 9% higher on Thursday appeared first on The Motley Fool Australia. –

The Sezzle Inc (ASX: SZL) share price is among the best performer on the All Ordinaries on Thursday morning.

At the time of writing, the buy now pay later (BNPL) provider’s shares are up 9% to $5.37.

Why is the Sezzle share price storming higher?

The catalyst for the rise in the Sezzle share price today was news that its service is now live with a major US retailer.

Overnight US giant Target announced the official launch of its buy now pay later offering with Sezzle and Affirm (NASDAQ: AFRM) ahead of the busy holiday season.

Target’s President of Financial and Retail Services, Gemma Kubat, commented: “With the help of two new partners — Sezzle and Affirm — we’ve added new payment solutions that let you buy what you need now, take advantage of our best deals, and pay at a pace that works well for you.”

“We know our guests want easy and affordable payment options that work within their family’s budget. Through our partnerships with Affirm and Sezzle, Target is investing in new financial tools that make our shopping experiences more flexible and personalized to guests’ needs, right in time for the holiday season.”

What impact could this have?

The deal with Target has the potential to boost Sezzle’s sales materially in the coming years.

The company notes that there are 1,909 Target stores across the US, with 75% of Americans living within 16km of one.

From its store network and online business, Target generated revenue of US$93.5 billion in 2020.

Anything else?

Also potentially giving the Sezzle share price a boost was an update on its Canadian operations.

Sezzle has advised that it has now reached the major milestone of 3,000 Canadian merchants and over 10,000 cross-border merchants. This comes after two years operating in the country.

Recent additions to its growing roster of retailers include Bentley, Stokes, Hart, FortNine, Umbra, Fairweather, JD Sports, size?, and EMERGE Commerce.

The post Why the Sezzle (ASX:SZL) share price is storming 9% higher on Thursday appeared first on The Motley Fool Australia.

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 August 16th 2021

More reading

ASX 200 tech shares set to slide as Nasdaq plunges 2%

These were the best performing ASX BNPL shares in September

The Sezzle (ASX:SZL) share price tumbled 13% in September. Is it a buy?
Why the Zip share price plunged 6% this morning

The Sezzle (ASX:SZL) share price is falling 3% today

Motley Fool contributor James Mickleboro 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 Affirm Holdings, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. 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!