Stock Track | Zip Co Plummets 8.31% Amid Tech Sector Selloff and Market Downturn

Stock Track

03/31

Zip Co Ltd (ASX: ZIP), a prominent buy now pay later provider, saw its shares plummet by 8.31% during Monday's trading session. The sharp decline comes as part of a broader market selloff that has particularly impacted the technology and growth sectors.

The S&P/ASX 200 Index (ASX: XJO) experienced a significant downturn, falling 1.45% to 7,866.1 points. However, the tech sector bore the brunt of the selloff, with the S&P ASX ALL TECHNOLOGY index dropping 2.2%. This disproportionate impact on tech stocks has exacerbated Zip Co's decline.

Zip Co's shares closed at $1.62, marking a 7% decrease from the previous trading day. This latest drop contributes to a larger downward trend for the company, with its stock now more than 50% below its 52-week high. The severity of Zip's decline highlights the current market sentiment towards high-growth tech stocks and the buy now pay later sector in particular, as investors reassess risk in the face of broader economic concerns.

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The severity of Zip's decline highlights the current market sentiment towards high-growth tech stocks and the buy now pay later sector in particular, as investors reassess risk in the face of broader economic concerns.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ZIP.AU","symbol_name":"Zip Co Ltd","start_time":0,"source_url":"","article_id":"1197771840","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1197771840","pubTimestamp":1743397346,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Zip Co Ltd , a prominent buy now pay later provider, saw its shares plummet by 8.31% during Monday's trading session. 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