ASX hits 11 month high, Z1P shares rocket

A solid session for the ASX today with our recently frustrating BNPL stock Zip Co (Z1P) rewarding our patience rallying +23% following a positive quarterly update – we cover the high notes below. Their move helped the IT sector lead the gains adding +2.7% in a session that was clearly risk on. The ASX 200 breaking out of its ~8 week trading range which now sets up a move towards all-time highs. I caught up with a good friend this afternoon who’s heavily involved in property, particularly in the Western Suburbs of Sydney. I hadn’t caught up with him for a year and some of the prices being achieved for properties in that region have been extraordinary relative to the feasibilities we’d talked about only 12 months ago, clearly the trend is being supported be low rates and plenty of liquidity, a theme we expect will continue.

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22/01/2021 07:57

ASX hits 11 month high, Z1P shares rocket

ZIP

MM is bullish Z1P after strong quarterly - Growth in the US the key

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STO

MM is now neutral energy after a solid run

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