Why has the Zip (ASX:Z1P) share price gone nowhere in FY21?

Zip Co Ltd (ASX: Z1P) shares struggled in the second half of 2020 despite the company’s strong growth performance and positive announcements. With everything that’s going for the buy now, pay later (BNPL) company, why has the Zip share price gone nowhere in the first half of FY21? 

Popularity didn’t translate to a higher Zip share price 

Zip has proven itself to be one of the most popular shares on the ASX. Online broker Superhero revealed that Zip was the most popular stock on its platform in 2020.

Similarly, Commsec’s weekly most traded Australian shares update regularly features Zip shares. In its most recent update for shares traded between 7 to 12 December, Zip shares were the second most traded on the ASX. Buyers…