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Date : 23/06/2021

Zip Co Shares Makes A Come Back on ASX With Price Hitting 2 Month High

Headquartered in Sydney, Zip Co. is one of the largest BNPL players in Australia. Zip has operations across Australia, New Zealand, South Africa, the United Kingdom, and the USA. With Zip’s acquisition of QuadPay, the firm has entered the highly lucrative North American market.

Late last month, Zip also announced their expansion into Europe and the Middle East. by acquiring the remaining shares on top of their existing holdings in European BNPL provider Twisto Payments and of UAE-based BNPL leader Spotii Holdings Ltd. The transactions align with Zip’s global expansion plans and the rapidly accelerating global BNPL opportunity. As demonstrated through the acquisition of QuadPay, where annual transactions have soared by over 200% post acquisition, Zip is building its playbook in successfully identifying, completing,and integrating strategic acquisitions.

Why Zip Co. Share Price jumped Today on ASX?

After Z1P shares reached a high of over $14 a share in February 2021, the stock has largely been on a downward spiral given the volatility in the bond yields and the shift from growth to value stock over fears of inflation. Since the past couple of weeks however, the markets have largely been estimating inflation to be transitory and bond yields as a result have been declining consistently – resulting in the resurgence of growths stocks and Z1P shares have been a direct benefactor of this thematic that is playing out not just here in Australia, but globally.

Zip shares have now been in a bullish run close to a month. Today, Z1P shares continued their surge, adding 6.44% as shares closed at $8.60 a share. The 1-Week performance of Z1P shares has now gone up to 18.62%.

In addition to the changing macro-economic outlook markets seem to be portraying, Z1P’s expansion into Europe and the Middle East adds significant tailwinds as Z1P will now be one of the few companies that are operating across all major BNPL markets. Thus, with substantial tailwinds and the share price still way off its $14.53 high posted in February this year, Z1P shares look extremely desirable.

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