What was the worst day on the Zip (ASX: Z1P) stock price chart?
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The Zip Co Ltd (ASX: Z1P) The stock price has seen its fair share of ups and downs since it was listed on the ASX in late 2009.
To be fair, there have been more ups than downs, with the company’s value rising 292% in the years since its initial public offering (IPO).
That’s not to say he didn’t have some big issues during his run on the ASX.
Let’s take a closer look.
What were the worst trading days for the Zip share price?
Zip’s stock price experienced several days of falling to close in double digits. Here are the 5 worst days since Supplier Buy Now, Pay Later (BNPL) listed on ASX.
September 1, 2020
Zip shares fell 12.8% at the close of markets that day to end at $ 7.99 per share. The catalyst for the decline was the announcement of the American company PayPal Holdings Inc (NASDAQ: PYPL) that it would enter the BNPL space. BNPL’s rival Australia Afterpay Ltd (ASX: APT) also fell that day by a substantial margin.
February 17, 2021
Zip’s stock price fell 14.0% that day and ended at $ 11.97. As Motley Fool reported at the time, there seemed to be three separate catalysts for the downfall of Zip stocks. The first was the general weakness of the tech sector at the time amid widespread fears of soaring inflation.
The second was potentially profit-taking by investors looking to cash in on a good bet, and the third appeared to be investors looking to pull out when it seemed unlikely that the company would be listed in the United States of si early.
March 9, 12 and 18, 2020
As anyone who invested in the stock market at the time is likely fondly remembered, this was at the height of the stock market crash caused by COVID last year. On those days, Zip lost 17.6%, 18.8% and 17.8% respectively in value, all in just 9 days!
In terms of the highest percentage fall, the worst day for Zip shareholders was March 12, 2020. However, in terms of market capitalization loss, the worst trade for Zip was February 17, 2021.
Just under $ 1.1 billion was wiped out of the business in a single day. It is the equivalent of Aussie Broadband Ltd‘s (ASX: ABB) full market capitalization at time of writing.