After soaring in the pandemic-led tech boom, many of the tiny fintech stocks in this space have capitulated. A reflection of the competitive and challenging market it’s now become.
Humm Group [ASX:HUM] share price is up over 20% as the buy now, pay later (BNPL) stock flags potential takeover bids.
From Afterpay [ASX:APT] to Vulcan Energy Resources [ASX:VUL], BNPL and lithium stocks are under heavy selling pressure today as markets worry about Omicron and inflation.
Novonix [ASX:NVX] shares fell 25% before entering a trading halt, while BNPL stocks Openpay Group [ASX:OPY] and Splitit Payments [ASX:SPT] rose on trading updates.
According to The Guardian’s report, shares in ASX BNPL stocks fell by an average of 80% compared to their peak prices in the last 12 months.
Case in point is the performance of Splitit [ASX:SPT]. The US-based fintech that’s seen its shares fall dramatically over the course of 2021.
Zip says acquiring Twisto is an entry point to one of the world’s largest eCommerce markets, with access to all 27 member states of the European Union (EU). Zip Co [ASX:Z1P] share price is currently up 4%:
The Sezzle [ASX:SZL] shares sank today despite new highs for underlying sales, active customers, and active merchants in the June quarter.
Despite a ‘record high quarter’ for sales volume, the Splitit Ltd [ASX:SPT] share price hit a 52-week low in morning trade.
The Splitit [ASX:SPT] share price is down today following the release of its first-quarter update. At time of writing SPT shares are down 6.5%, trading at 79.5 cents...