Business
Zip Co share surge sparks speeding ticket as valuation soars – Sydney Morning Herald
Zip’s value on paper at $7.5 billion is now higher than some of the country’s best-known companies, including JB Hi-Fi, AGL Energy, Crown Resorts and Nine Entertainment….
Zip said it was not aware of anything that explains the recent trading, but did note there had been significant interest in the buy now, pay later (BNPL) sector lately, pointing to previous announcements about its growth that were made in January.
Analysts and fund managers pointed out Zips share register was skewed towards retail investors, and also highlighted the recent market excitement surrounding BNPL providers, which are aiming to disrupt the credit card and personal loan businesses.
Morningstar…
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