It’s been a fairly average day so far for the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday. At the time of writing, the ASX 200 has lost 0.42% and is back to around 6,968 points. But no one seems to have told the Block Inc (ASX: SQ2) share price.

Block (formerly known as Square) shares are having a cracking day today. The fintech company is presently enjoying a 5.05% gain, which puts it at $115.82 a share. This latest rise means that Block has now put on a pleasing 11.09% over the past five trading days, and an even more gratifying 25% or so over the past month.

So what might be behind Block’s stellar ASX performance so far today?

Why is the Block share price surging on Wednesday?

Well, unfortunately, the answer is unclear. Today’s moves have nothing to do with any news or announcements out of Block, seeing as there are none. In fact, Block hasn’t released any price-sensitive news in over two months.

So our most likely explanation for Block’s performance today is the broader performance of ASX tech shares. ASX tech shares are currently the best performing sector on the ASX 200 today, with the S&P/ASX 200 Information Technology Index (ASX: XIJ) currently up a healthy 1.8%.

As one might expect, this means that there are several ASX tech shares recording strong gains today. Take Megaport Ltd (ASX: MP1) shares, up more than 6% today. It’s a similar story with EML Payments Ltd (ASX: EML), which is up more than 7%. Zip Co Ltd (ASX: ZIP) shares are up nearly 12%, as we looked into earlier.

So it seems Block shares are getting caught up in this burst of goodwill towards the ASX tech sector this Wednesday. No doubt shareholders won’t be complaining.

At the current Block share price, this ASX 200 tech share has a market capitalisation of US$41.8 billion.

The post Why is the Block share price leaping 5% on Wednesday? appeared first on The Motley Fool Australia.

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• Can ‘Operation Blue Sky’ take Zip shares up the path to profitability?
• Friend or foe? Could inflation give ASX BNPL shares a new lease on life?
• These are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., EML Payments, MEGAPORT FPO, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. and EML Payments. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The broader market has dipped into the red today, but ASX tech shares are still posting a strong performance.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) is leading the S&P/ASX 200 Index (ASX: XJO) with a 1.87% gain while the S&P/ASX All Technology Index(ASX: XTX) is lifting 1.52%.

For context, the ASX 200 is currently down 0.34% and the All Ordinaries Index (ASX: XAO) has dumped 0.23%.

And these ASX tech shares are reaping the rewards of their sector’s gains.

They’re each surging more than 10% on Wednesday. Let’s take a look at why.

3 ASX tech shares gaining more than 10% today

Splitit Ltd (ASX: SPT)

ASX buy now, pay later (BNPL) provider Splitit is gaining today. Its share price is lifting 11.5% at the time of writing to trade at 26.2 cents.

There’s been no news from the company to explain its rise. However, many of its BNPL peers are also well and truly in the green.

The Zip Co Ltd (ASX: ZIP) share price is currently up 9% while that of Sezzle Inc (ASX: SZL) is gaining 5%.

Webcentral Ltd (ASX: WCG)

Meanwhile, ASX digital services provider Webcentral is also getting in on tech’s day in the green, surging 13% to trade at 26 cents today.

The company announced an on-market share buyback on Wednesday. It said the buyback highlights its strong balance sheet, cash flow generation, and disciplined capital management.

Dotz Nano Ltd (ASX: DTZ)

The final ASX tech share to be posting a notable gain today is Dotz Nano. The stock has leapt 11% to reach 30 cents right now.

There’s been no news from the anticounterfeiting and tracing solutions-focused tech company to explain today’s gains.

However, it tumbled 10% over the course of Monday and Tuesday. Thus, its Wednesday gains might be representing a rebound of sorts.

The post 3 ASX tech shares surging more than 10% today appeared first on The Motley Fool Australia.

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More reading

• Why is the Sezzle share price surging 8% on Wednesday?
• Why are ASX buy now, pay later shares rocketing higher today?
• Why did some ASX BNPL shares plummet more than 90% in FY22?

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. has positions in and has recommended ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Webcentral Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and dropped into the red. At the time of writing, the benchmark index is down 0.45% to 6,967.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

BWP Trust (ASX: BWP)

The BWP share price is up 1.5% to $4.30. Investors have been buying this Bunnings-focused commercial property company’s following the release of its full year results. BWP reported modest revenue and profit growth before investment property gains. But including these gains, its profits rose 85% to $486.6 million.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas Rare Earths share price is up 7% to $9.52. This morning this rare earths company announced plans for a $500 million capacity-expansion at Mt Weld Global. This is being undertaken due to forecasts for demand for rare earth materials and NdFeB magnets more than doubling over the next 10 years.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 2% to $2.79. Investors have been buying this lithium miner’s shares after it revealed the results of its latest BMX auction. According to the release, the price it commanded at this month’s digital auction rose month on month to US$6,350 per dry metric tonne (SC5.5, FOB Port Hedland basis). On a pro rata basis for lithia content (inclusive of freight costs), this equates to a price of ~US$7,012 per dmt (SC6.0, CIF China basis).

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price has jumped almost 15% to $11.55. The catalyst for this was the release of the investment company’s full year results, which revealed a 14% increase in net profit after tax to $76.4 million. Analysts at Morgans were forecasting a profit after tax of $75.3 million.

The post Why BWP, Lynas, Pilbara Minerals, and Pinnacle shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• BWP Trust share price lifts as net profit soars 85% in FY22
• Pinnacle share price surges 13% on 2022 financial year profit growth
• Pilbara Minerals share price dips despite upbeat lithium outlook
• Making money even while stock markets fall
• ‘Essential foundation for success’: Lynas share price leaps on $500 million expansion

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PINNACLE FPO. The Motley Fool Australia has positions in and has recommended PINNACLE FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Fortescue Metals Group Limited (ASX: FMG) shares are in focus after the company’s CEO presented at the Diggers & Dealers Mining Conference.

The company has a goal of “taking a global leadership position in green energy and technology and is committed to producing zero-carbon green hydrogen.”

Fortescue’s plan is to produce industrial levels of hydrogen by using water and renewable energy.

It is transitioning to become an integrated, global green energy and resources company, together with Fortescue Future Industries (FFI).

The company has already signed a number of different deals for its future production of green hydrogen.

Global energy markets were rocked a few months ago when Russia invaded Ukraine, meaning that the energy landscape has “changed dramatically” and “energy security is now the world’s greatest concern.”

But, Fortescue’s CEO, Elizabeth Gaines, said that the energy crisis shouldn’t lead to a worsening of the climate crisis. She noted that crude oil was around US$70 a barrel 12 months ago, compared to US$100 per barrel now. This is having wide-reaching impacts.

But, Gaines said that in light of the situation, there is increased demand for green energy, particularly in Europe.

Green deals signed

By 2030, FFI wants to produce 15 million tonnes of green, renewable hydrogen annually.

E.ON, one of Europe’s largest operators of energy networks and energy infrastructure with 50 million customers, has signed a memorandum of understanding (MoU) with FFI to execute on the ambition to deliver up to five million tonnes of green hydrogen per annum. So, that’s a third of FFI’s planned production.

Gaines said that the E.ON deal is a “significant opportunity”. Green energy can ensure energy independence. This could play its part in supporting the Fortescue share price in the future.

FFI has also signed a MoU with Covestro, a Germany-based supplier of high-tech polymer materials. FFI plans to supply Covestro with the equivalent of up to 100,000 tonnes of green hydrogen.

Fortescue has also signed a deal with construction giant J C Bamford Excavators (JCB) and Ryze Hydrogen. The MoU is for 10% of FFI’s global green hydrogen production. This was a “multi-billion-pound” deal. Ryze is building the UK’s first network of green hydrogen production plants and Wrightbus (owned by Jo Bamford) has built the world’s first hydrogen double decker bus.

CEO comments

Gaines said:

We’re all facing significant inflationary pressures which impacts our margins — and, in fact, this could get even worse given the current geopolitical environment. So, it’s imperative for all of us to accelerate our transition to green energy and reduce our reliance on fossil fuels, so that we can protect and maintain our cost and our margins.

For our size and scale, there is no other mining company in the world that is taking the action we are to eliminate emissions.

We know it is when heavy emitters like us take action that it makes the biggest difference.

We plan to have Fortescue’s operations running on green energy within the next eight years. This includes our haul trucks, our iron ore trains and our power stations.

Industry must change its business model from producing emissions – to reducing and eliminating emissions.

She also commented how removing its reliance on fossil fuels makes long-term business sense. This could be helpful for the Fortescue share price. It’s developing an ‘infinity train’ that will use gravitational energy to recharge its battery electric systems without any additional charging requirements.

These efforts will “accelerate Fortescue’s race to reach net zero emissions by 2030” and lower “operating costs, creating maintenance efficiencies, and generating productivity improvements.”

Fortescue share price snapshot

Over the last month, the Fortescue share price has risen around 5%.

The post ‘World’s greatest concern’: Can Fortescue really help the planet AND its profit margin? appeared first on The Motley Fool Australia.

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More reading

• Is the iron ore price entering a bear market?
• Why Appen, Credit Corp, Fortescue, and Santos shares are dropping
• Why is the Fortescue share price sliding on Tuesday?
• What brokers are saying about the Fortescue share price in August
• Guess which 2 ASX 200 shares have some of the highest dividend yields right now

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Beach Energy Ltd (ASX: BPT) share price has continued its ascent today, now up less than 1% to $1.80 apiece.

Investors have bid the share up more than 6% over the past month, despite the price of Brent Crude oil falling by 8.5% in the same time.

The global oil benchmark now trades at US$100 per barrel, back in range of its early March levels.

What’s kept the Beach Energy share price going?

It’s no secret that energy shares have been the best performing sector this calendar year. Since trading resumed in January, the index is up around 30%, despite levelling off in recent months.

The adjacent utilities sector is also up around 19% in the same time, whereas over the past 12 months gains are even at about 31% each.

Therefore momentum has been strong leading into this period, and investors look to still be constructive on both sectors.

Meanwhile, Brent Crude futures have receded back to US$100 per barrel in today’s session, ahead of the upcoming OPEC+ meeting.

“[OPEC+] is expected to keep output largely unchanged amid supply challenges and concerns a potential global recession could hit energy demand,” Trading Economics reported.

Beach has been defiant in the face of oil’s turbulence and continues to pulsate higher in a wave-like fashion, as seen on the chart below, for the past 3 months.

Meantime, the Beach Energy share price is rated as a buy from 78% of the brokers covering it, according to Refinitiv Eikon data. There is just 1 sell rating, with the remaining coverage rating it a hold.

The consensus price target from this list is $2.07, suggesting brokers expect the share to appreciate over the coming periods.

In the last 12 months, the Beach share price has climbed more than 50%, and 43% this year to date.

The post How is the Beach Energy share price managing to hang tough despite falling oil prices? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Cobre Limited (ASX: CBE) share price won’t be going anywhere on Wednesday.

This comes as the company requested its shares be placed in a trading halt.

The mineral explorer’s shares are currently frozen at yesterday’s closing price of 18 cents apiece.

Why is the Cobre share price halted?

At market open, Cobre requested trading of its shares be halted while it prepares to make an announcement.

According to its release, the company is planning to update the market with respect to a material capital raising.

Cobre has asked that the trading halt remains in place until Friday 5 August or following the release of the announcement, whichever comes first.

What does this mean?

While details remain unknown about the capital raise, it appears the company may be seeking to fund its ongoing drilling campaign.

In an earlier announcement today, Cobre provided its latest drilling results from the Ngami Copper Project (NCP) in Botswana.

The third diamond drill hole intersected a 15-metre zone of copper mineralisation consisting of chrysocolla, malachite, and fine-grained chalcocite.

While still in progress, Cobre initially planned to test the first of 57 ranked targets on Kalahari Metal Limited’s NCP licenses.

However, proving the occurrence of a significant strike length of copper mineralisation highlights the potential of new discoveries.

The diamond drill rig will move to the next hole upon completion.

Cobre executive chair and managing director Martin Holland said:

The ongoing hole further illustrates the strike length of intersected copper mineralisation in this exciting target which remains open-ended. The footprint of mineralisation, which now extends over more than 3km, is very much in-line with known deposits in the Kalahari Copper Belt….

About the Cobre share price

Since this time last year, Cobre shares headed on a downhill trend before rocketing during the last week of July.

Ultimately, this led the company’s shares to register a gain of 16% for the period, rocketing 592% in the past month alone.

Cobre has a market capitalisation of roughly $29 million with approximately 165 million shares outstanding.

The post Copper and cash: Why this ASX mining share is on ice today appeared first on The Motley Fool Australia.

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• Guess which tiny ASX mining share just rocketed 74% on an ‘outstanding’ new copper find
• Guess which ASX mining share just exploded 100% on a new discovery

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The ResApp Health Ltd (ASX: RAP) share price is leaping on news Pfizer has upped its bid for the company.

The biopharmaceutical giant has agreed to acquire the Brisbane-based health technology company for 20.8 cents per share. That’s up from its previous bid of 14.6 cents.

The ResApp share price is trading at 18 cents right now, 50% higher than its previous close.

However, that’s lower than its intraday high – and new 52-week high – of 19 cents.

Let’s take a closer look at the latest news from the takeover target.

ResApp share price takes off on upped takeover offer

The ResApp share price is soaring 50% on Wednesday after the company announced Pfizer has upped its takeover bid to 20.8 cents per share.

That sits within its assessed value range of 14.6 cents to 27.9 cents per ResApp share, as determined by an independent expert. It also values the company at around $179 million.

The pair have entered an amended scheme of arrangement agreement entailing the increased bid.

ResApp recommends shareholders vote in favour of the proposition in the absence of a superior proposal and subject to the independent expert continuing to conclude that the scheme is in investors’ best interests.

How did we get here?

ResApp is the developer of a smartphone app designed to detect COVID-19 using cough sounds.

The tech was recently dealt a blow when a data confirmation study returned significantly worse results than a previous pilot study.

Pfizer first put a takeover proposal to ResApp in April. Then, it offered just 11.5 cents per share.

That bid was upped to either 20.7 cents or 14.6 cents in June. Though, the higher of the bids was dependent on positive findings from the data confirmation study, which hadn’t been completed at the time.

Perhaps unsurprisingly, the ResApp share price plummeted 28.6% when the study’s disappointing results were released.

The post ResApp share price explodes 50% on new Pfizer deal appeared first on The Motley Fool Australia.

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More reading

• ‘Massive untapped demand’: The $3 trillion opportunity ASX 200 energy shares could be missing
• Why is the Sezzle share price surging 8% on Wednesday?
• Up 10%, what’s going on with the Zip share price today?
• Up 10% in a month, is the CBA share price now fully valued?
• Up 22% in a month, can the Imugene share price extend its rally?

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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) energy shares look to be missing out on some potentially game-changing funding.

ASX 200 energy shares, including AGL Energy Limited (ASX: AGL) and Origin Energy Ltd (ASX: ORG), alongside smaller energy shares outside the ASX 200 like Genex Power Ltd (ASX: GNX), are all working to transition toward cleaner and eventually wholly renewable energy sources.

Net zero by 2050 comes with a hefty price tag

According to Sohel Azad, an Islamic finance expert at Deakin Business School:

Public pressure to develop large-scale, high-cost, renewable energy infrastructure is huge. Australia has a bold plan to transform its energy market. Prime Minister Anthony Albanese plans to legislate ambitious carbon reduction targets, including net-zero by 2050, and the need to strengthen energy generation capabilities has only been exacerbated by the current gas crisis.

But the costs of developing renewable energy infrastructure on a national level can be prohibitive. Which is why Azad points to the as yet untapped potential of additional international funding sources to help Australia go green.

ASX 200 energy shares missing out on ‘massive untapped demand’

According to Azad, sharia-compliant Islamic bonds would likely see strong demand to support green energy projects in Australia, like large-scale battery grid storage.

The bonds, called sukuk, don’t pay interest to their holders. Instead, they’re classified as securities, backed by tangible assets which enable investors to garner a share of the profits (or losses) when the assets are sold or traded.

Azad says that selling sukuk on the ASX could offer investment certainty for the energy transition.

Sukuk can only be used on ethical investments, “a natural fit for funding green energy projects”.

“Sukuk has already been introduced in many international markets and Australia must be quick to take advantage of the opportunities,” he said.

And the opportunity appears vast, with Deakin estimating Islamic finance is almost a $3 trillion global industry.

Which could open the door to some hefty funding for ASX 200 energy shares’ green projects.

“We simply don’t have the public or private funds in Australia to deliver some of these ambitious projects,” Azad said. “By selling sukuk on the ASX, and cross listing in other exchanges overseas, the government and corporates can attract more foreign investment in renewable energy projects.”

Azad added:

There is a massive untapped demand from Islamic investors for sustainable investment opportunities like this that are sharia compliant, and Islamic finance firms are particularly interested in investing in projects that address the United Nation’s Sustainable Development Goals.

The post ‘Massive untapped demand’: The $3 trillion opportunity ASX 200 energy shares could be missing appeared first on The Motley Fool Australia.

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More reading

• ‘Alarming’: ASX 200 energy shares lift despite increasing government pressure over supply outlook
• No deal: Genex share price lifts as $300m takeover bid rejected
• Can the AGL dividend bounce back this earnings season?
• What’s been impacting the AGL share price this week?
• ‘Extraordinarily challenging quarter’: Origin share price lifts despite $2.2b write down

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Sezzle Inc (ASX: SZL) share price is up 7.55% at lunchtime on Wednesday, with fellow buy now, pay later (BNPL) player Zip Co Ltd (ASX: ZIP) also up by 9.02%.

Other ASX BNPL shares are also well into the green today, including Splitit Ltd (ASX: SPT) up 12.77%.

There’s been new momentum in the BNPL space in recent weeks. The Sezzle share price is up — wait for it — 256% over the past month. The Zip share price has gained 175% over the same timeframe. Splitit shares are up 92%, Block Inc CDI (ASX: SQ2) is up 31.64%, and Humm Group Ltd (ASX: HUM) is up 15%.

What’s the sizzle on the Sezzle share price?

There is some price-sensitive news out of Sezzle today with a revolving credit facility amendment.

However, the lift in the Sezzle share price likely has nothing to do with this announcement. It simply appears to be a case of the BNPL sector coming back.

To recap, FY22 was the year from hell for BNPL shareholders. As my Fool colleague Brooke reports, some BNPL shares tumbled more than 90%.

Among the elements messing things up for BNPL shareholders were new competition, and concerns that rising inflation and interest rates could curb people’s spending and, thus, their use of BNPL services.

The Commonwealth Bank of Australia (ASX: CBA) launched its StepPay offering and National Australia Bank Ltd (ASX: NAB) launched NAB Now Pay Later. News that Apple Inc may soon launch its Apple Pay Later offering in addition to PayPal Holdings Inc scrapping its late fees also hurt ASX BNPL share prices.

Zip also canned its proposed takeover of Sezzle in early July “in light of current macroeconomic and market conditions”.

Are BNPL shares back in vogue?

So what’s changed? It’s still unclear. Just last week, the Sezzle share price exploded before the ASX called time out to ask the company if it knew why.

In its response, Sezzle said it believes “investors led the increase in trading activity, because of the sector having been significantly down in recent weeks”.

So, maybe it’s just a simple case of investors deciding BNPL shares are too cheap to ignore now.

Plus, there’s been some good news from the main BNPL players recently.

Sezzle shares soared last Friday after the company released its FY22 Q2 update. Sezzle told the market it expects to become profitable in the next six months, which is a huge deal.

Previously, Zip also released a pleasing quarterly update.

The post Why is the Sezzle share price surging 8% on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• Up 10%, what’s going on with the Zip share price today?
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Can ‘Operation Blue Sky’ take Zip shares up the path to profitability?
• Here are the 3 most heavily traded ASX 200 shares on Monday

Motley Fool contributor Bronwyn Allen has positions in ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. 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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is having another lacklustre kind of day so far on Wednesday. At the time of writing, the ASX 200 is down by 0.52%. But it’s another story when it comes to the Zip Co Ltd (ASX: ZIP) share price.

Zip shares are on fire today. The buy now, pay later (BNPL) share is presently up a pleasing 8.2% at $1.32 a share. But earlier today, Zip climbed even higher, hitting $1.36 a share. That was a rise worth more than 10.6% at the time.

All of this was despite an initial fall for the BNPL share this morning after market open. At open, Zip actually fell quite heavily, sinking as low as $1.20 a share.

So there has certainly been some notable volatility with this company today.

So what’s going on with Zip today that might explain this rather erratic behaviour?

Why is the Zip share price bouncing around today?

Well, unfortunately, it’s anyone’s guess. Zip hasn’t released any new news, developments or announcements today whatsoever. Indeed, Zip has not released any price-sensitive ASX news since the release of the company’s quarterly update back on 21 July.

But that doesn’t mean today’s dramatic boost is an isolated incident. Zip shares have been incredibly volatile for the past month or so.

The BNPL share had a cracker of a month over July, rising from around 44 cents on 30 June to $1.65 a share on the last trading day of July. That’s a monthly gain of 275%. Yowza.

But the past week has delivered mostly massive share price moves for Zip, both positive and negative.

Last Friday saw the company fall 25%, followed by a 7% drop on Monday. Then we had a 15% rise yesterday, and now another 8% or so so far today. What a rollercoaster.

So it seems today’s moves are just a continuation of this incredible volatility that has come to the Zip share price in recent days and weeks. Who knows what tomorrow will bring…

This ASX 200 BNPL share has a market capitalisation of just over $839 million at the current Zip share price.

The post Up 10%, what’s going on with the Zip share price today? appeared first on The Motley Fool Australia.

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More reading

• Why is the Sezzle share price surging 8% on Wednesday?
• 5 things to watch on the ASX 200 on Wednesday
• Here’s why the next bull market may have already begun
• 3 ASX 200 shares rocking new, multi-year highs on Tuesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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