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That's ZIP for you Kaboom
ZIP - Zip Co Limited
- Thread starter Bushman
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- 25 November 2017
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Zip Co Ltd (ASX: ZIP)
The Zip Co share price is down 22% to $2.54. Investors have been selling the buy now pay later (BNPL) provider's second quarter update. For the three months ended 31 December, Zip reported cash earnings before taxes, depreciation and amortisation (EBTDA) of $35.3 million. While this is up 50.2% on the prior corresponding period, it is lower than what some analysts were forecasting for the high-flying stock. Zip's growth was driven by its US operations. Zip's CEO Cynthia Scott said: "Our strong performance was driven by outstanding US growth, with year on year TTV and revenue growth of 38.3% and 41.0% respectively, driven by an exceptional holiday trading period which included the single largest trading day and month in Zip's history."I bailed out of ZIP today after my trailing stop was hit. It has been a terrific winner.