Zip's 937% Surge Tops Payments Stocks Globally on Outlook in US [BNN Bloomberg (Canada)]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: BNN Bloomberg
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 the US” and described lower borrowing costs as a “definite tailwind.” The firm “will keep spending on marketing” to tap a $128 billion opportunity in the US and compete with Block Inc.'s Afterpay, Affirm Holdings Inc. and Klarna Bank AB, Bloomberg Intelligence Senior Industry Analyst Matt Ingram wrote in a note. Reduced headcount and the sh
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Sec Filings
- 8/23/24 - Form 4
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