Business
Is Afterpay (ASX:APT)’s BNPL competition heating up?
The Afterpay Ltd (ASX: APT) share price had a fantastic day today. Afterpay shares closed the day up by 7.53% at $115.26. However, if you pull back just a little bit, the picture is not nearly as rosy. Afterpay shares are still down around 25% over the past month after making a new all-time high (of $160.05 a share) back on 10 February.
Afterpay’s rival Zip Co Ltd (ASX: Z1P) hasn’t been so lucky. Zip shares dropped 3.87% today to $8.44. Over the past month, Zip has lost a hefty 21.5%, and more than 40% since reaching a new all-time high on 16 February.
As we discussed earlier today, Zip shares haven’t been feeling the love from several brokers in recent weeks, with UBS slapping a sell rating on Zip just this morning.
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