Zip Co (Z1P) shares rally with strong November update
Z1P +9.91%: November update from the BNPL company was strong helping recover some of the selling seen in the past few weeks. Total Transactions in the month topped $900m, 52% above the same period last year and is now annualizing over $10b. Customer numbers are also swelling, cracking the 9m mark for active customers in the quarter and up 86% on last year. International markets are the focus for Zip at the moment with recent acquisition of Twisto providing a launch pad for Europe and a deal with Singtel in place ahead of a Singapore launch. Despite all of the good news, the stock has been under significant pressure and it’s unlikely one good announcement will see it turn the corner just yet.
MM is neutral Z1P
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