It’s a rough day on the market for the Sezzle Inc (ASX: SZL) share price despite silence from the company.
In fact, the market hasn’t heard any news from the buy now, pay later (BNPL) company for nearly a fortnight.
Yet its stock is slumping today. At the time of writing, the Sezzle share price is $3.345, 7.34% lower than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) has slid 0.54% today.
Let’s take a look at what might be weighing on the BNPL provider’s shares on Wednesday.
Sezzle share price slumps on Wednesday
The Sezzle share price is being dragged lower today, but at least it’s not alone.
The tech-heavy Nasdaq Composite tumbled 1.14% overnight.
Today, the BNPL sector is adding to the grief of its technology counterparts.
The S&P/ASX All Technology Index (ASX: XTX) is slumping 2.6% at the time of writing.
The S&P/ASX 200 Information Technology Index (ASX: XIJ) isn’t doing much better. It’s fallen 2.42% today.
While Sezzle isn’t a part of either index, its BNPL peer Afterpay Ltd (ASX: APT) exists in both.
Right now, the Afterpay share price is experiencing a 3.64% plunge. Zip Co Ltd (ASX: Z1P) is also in the red, its shares sliding 5.03% at the time of writing.
Meanwhile, the Humm Group Ltd (ASX: HUM) share price is defying the trend to edge 0.68% into the green in afternoon trade.
Today’s drop sees the Sezzle share price record a whopping 16% fall so far this month.
Making the dip more interesting is the fact the only news out of the BNPL company in December seemed to be positive.
On 2 December, Sezzle reported its underlying merchant sales for the month of November were 83% higher than they were during November 2020.
Additionally, the Black Friday and Cyber Monday weekend saw its underlying merchant sales rise 53% on those of the 2020 retail event.
Right now, the Sezzle share price is 46% lower than it was at the start of 2021.
The post Why is the Sezzle (ASX:SZL) share price tumbling 7% today? appeared first on The Motley Fool Australia.
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More reading
- Why did ASX BNPL shares get hammered today?
- Sezzle (ASX:SZL) share price fizzles 5% despite upbeat growth figures
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Humm Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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