Search ASX code:
Generic filters

Search ASX code:
Generic filters

Search ASX code:
Generic filters

This year. We're going Beyond.

ASX 200 morning report – Zip & Splitit share prices soar

The S&P/ASX 200 (ASX: XJO) finished flat on Tuesday, with gains in the IT sector, which was 2.2% higher, not enough to offset weakness across cyclical businesses including energy, down 0.7%, and utilities, down 1.1%.

ASX 200 chart

Source: Rask Media 1-year ASX 200 chart

Zip share price soars

The standout by far was buy now, pay later firm Zip Co Ltd (ASX: Z1P), which jumped 16.9% after a stunning quarterly update. The company reported an 80% increase in revenue for the quarter, jumping to $114.4 million on the back of another 114% increase in transaction volumes through its platform to reach $1.6 billion.

The US business has nearly overtaken Australia when it comes to revenue contribution, with Quadpay seeing 188% growth in revenue and a 234% increase in transactions. Australian volumes were up a more ‘modest’ 61%. Bad debts also reduced from 1.93% to 1.78% of its loan book in a positive sign for shareholders.

BNPL in the green

Zip wasn’t the only BNPL company that charged higher on Tuesday. Afterpay Ltd (ASX: APT) finished the day with a 3.1% gain, while Sezzle Inc (ASX: SZL) and Splitit Ltd (ASX: SPT) both jumped more than 8%.

Along with positive sentiment towards the sector, the Splitit share price was boosted by a new global partnership with UnionPay International, part of China UnionPay, the provider of bank card services and a major card scheme in mainland China.

Under the partnership, UnionPay will be integrating Splitit to make it available to its network. This will give UnionPay cardholders and merchants accepting UnionPay the opportunity to utilise Splitit’s instalment payments product.

Business confidence on the up

Sticking with the theme of good news, National Australia Bank Ltd’s (ASX: NAB) Business Confidence survey hit a record of 25 points, and so it should.

Large businesses are flushed with cash following 2020’s JobKeeper support and capital raisings, which when combined with near-zero borrowing rates may represent the best conditions in decades.

Looking ahead, the ASX 200 is poised to rise 0.3% when the market opens on Wednesday. ASX tech shares will be on watch after the tech-focused Nasdaq index posted a 1.1% gain overnight.

Is BNPL the opportunity of a lifetime or is the sector a ticking time bomb?

Rask's analyst has just finished a 7,500-word report, The Ultimate BNPL Sector Report, taking a deep dive into this booming ASX sector. It shines a spotlight on each of the major players. You can get the full analyst report for FREE by CLICKING HERE NOW or entering your email below.

Note: the report is 100% free.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Is BNPL the opportunity of a lifetime or is the sector a ticking time bomb?

Rask's analyst has just finished a 7,500-word report, The Ultimate BNPL Sector Report, taking a deep dive into this booming ASX sector. It shines a spotlight on each of the major players. You can get the full analyst report for FREE by CLICKING HERE NOW.

Note: the report is 100% free.

Disclosure: At the time of publishing, Drew owns shares in Zip Co.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Keep reading:

Rask Media’s Ultimate BNPL Sector Report

Afterpay, Zip, Sezzle… is this the opportunity of a lifetime? Or is BNPL a ticking time bomb? This 7,500-word analyst report takes a deep dive into the BNPL sector and shines a spotlight on each of the major players in this booming market. 

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

Enter your email below to access this report for free, including the names, ticker codes and analysis.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.