Zip's 937% Surge Tops Payments Stocks Globally on Outlook in US [Financial Post (Toronto, Ontario, Canada)]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Australia's Zip Co. has become the best performing digital payments stock in the world over the past year as traders wager on a boost for its US business from interest-rate cuts and a focus on curbing costs. Sydney-based Zip's shares have jumped 937% during the period, the most in the 41-member Solactive Digital Payments Index, according to data compiled by Bloomberg. The company provides point-of-sale credit and digital payment services in the US, New Zealand and Australia. Buy-now-pay-later stocks like Zip were pandemic-era darlings but took a hit as central banks later tightened policy to fight inflation. Sentiment is turning around again now that countries including the US have pivoted to cutting rates. Cynthia Scott, Zip's chief executive officer, said in an earnings call last month that the company is seeing “continued strong momentum in t
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