Laybuy (ASX:LBY) share price slides on Q4 trading update

The Laybuy Holdings Ltd (ASX: LBY) share price is sinking in mid-afternoon trade following the release of a business update.

At the time of writing, the buy now, pay later (BNPL) provider’s shares are fetching for 92 cents apiece, down 1%.

What’s with the Laybuy share price?

Investors appear unfazed by Laybuy’s latest performance update for Q4 FY21, sending its shares lower.

For the quarter ending 31 March 2021, Laybuy reported strong growth across its key operational metrics. Annualised (multiplied by 12) Gross Merchandise Value (GMV) increased to NZ$645 million, up 129% on the prior corresponding period.

Underpinning the result, the United…