Zip stocks (ASX: Z1P) hit a three-month high – and Afterpay (ASX: APT) hit it all – time one – after Zip saw strong growth in the second quarter, especially in the USA

Zip reported that sales for the three months ended December 31 December was up 88 percent year-over-year to $ 102 million, while customers nearly doubled to $ 57 million

American sales with Zip’s QuadPay subsidiary have more than tripled to $ 476 million than 915000 more customers joined the platform

“We are extremely excited to deliver another exceptional set of numbers with the quarter that really move the company a step in the right direction and confirm our position as one of the fastest growing players in the industry,” said CEO and Managing Director Larry Diamant

QuadPay was voted in the top 20 shopping category in the US iOS app store for most of the holiday season and was rated by Pymntscom as the second most popular alternative credit app of the time (Klarna was # 1 and Afterpay was # 4 )

Zip was in Australia in December when she was 200000 downloads the most frequently downloaded BNPL app, an increase of 21 percent compared to the previous quarter

Zip was also launched in the UK in December and launched other Zip Business products in Australia A business-to-business BNPL offering called Zip Trade has won a “very strong early adoption”

since its launch in December
Shortly after 11 a.m., Z1P shares rose 11 percent to $ 6635 while Afterpay shares had gained 57 percent to $ 14897 and had reached as much as $ 14960

Elsewhere in the BNPL space, Sezzle (ASX: SZL) was up 27 percent to $ 815, Openpay (ASX: OPY) had gained 38 percent to $ 247, and Payright (ASX: PYR) was up 12 percent while Laybuy (ASX: LBY) fell 0 percent, Humm (ASX: HUM) was down 13 percent, and Zebit (ASX: ZBT) was flat

Jessica Amir, market analyst at Bell Direct, said Zip has been sold out since August when PayPal announced it would enter the US market However, these quarterly results were better than expected

“They are actually one of the fastest growing BNPL players,” despite not having a dominant position in Australia’s home market, where Zip is second only to Afterpay, she said

“That’s pretty good, you can’t complain if you invest in Zip today,” she told Stockhead

Z1P was a favorite of social media messageboards and Facebook groups last year

“They talk to some of your friends and family, they buy Zip, they think it’ll be fine,” Amir said. “But if you look at the graph from a technical point of view, it looks like it’s flattening out””

The 200-day moving average appears to be crossing one for shorter periods of time, a bearish signal, she said

15 January 2021 | Nick Sundich

17 December 2020 | Derek Rose

23 November 2020 | Sam Jacobs

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The information is not intended to contain a recommendation or opinion on any financial product

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Zip (ASX, z1p asx, Z1P

World News – AU – Zip up 11%, Afterpay hits ATH of 149 USD after Zip – Stockhead’s strong 2Q numbers

Source: https://stockhead.com.au/tech/zip-up-11-afterpay-hits-ath-of-149-following-zips-strong-2q-figures/