BUZZ – Aussie BNPL firm Zip dips after Citi downgrades on U.S. slowdown12 October 2021 2:11 pm* Buy now, pay later firm Zip Co Ltd drops 3.5% to A$6.63 after Citi downgrades the stock to "neutral" from "buy"* Also cuts Zip's PT by 7% to A$7.4* Citi lowers customer growth forecasts as app downloads in the U.S. fall for a sixth straight month in September* Sees U.S. customer growth of 520,000, 14% lower than in Q4, to 4.957 mln* Citi, like Jefferies, says the rebrand of Zip's U.S. business and top growth driver, Quadpay, is hurting website visits, app downloads...* Says data shows website visits down 60% m/m in Sept, 68% y/y* Rival website visits rising, with Sezzle's up 27% in Sept y/y and Affirm's up 49% y/y – Citi* Says further capital may be needed in FY23 as Zip expands aggressively, but for now, the balance sheet is fine* Zip is looking to become a global BNPL firm to keep up with rivals such as Klarna and Afterpay(Reporting by Nikhil Kurian Nainan) (([email protected]; Twitter: @NikhilKurianN)© 2021 Thomson Reuters. Click for Restrictions.
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Last
$2.16 |
Change
-0.060(2.70%) |
Mkt cap ! $2.803B |
Open | High | Low | Value | Volume |
$2.14 | $2.20 | $2.12 | $27.01M | 12.55M |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 15000 | $2.15 |
Sellers (Offers)
Price($) | Vol. | No. |
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$2.16 | 117293 | 4 |
View Market Depth
No. | Vol. | Price($) |
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2 | 15000 | 2.150 |
11 | 147662 | 2.140 |
7 | 59679 | 2.130 |
20 | 458594 | 2.120 |
16 | 343570 | 2.110 |
Price($) | Vol. | No. |
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2.160 | 117293 | 4 |
2.170 | 411128 | 9 |
2.180 | 184235 | 4 |
2.190 | 284025 | 5 |
2.200 | 347172 | 15 |
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