Zip (ASX:ZIP) shares nosedive 10% today, here's why

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Image Source: © Timonschneider | Megapixl.com

Highlights

  • Zip’s share price fall was in-line with the broader ASX 200 Index, which fell 0.16% to close at 7,304.70.
  • This might be because of the company’s announceme that a considerable number of shares will be gradually freed from voluntary escrow.
  • Zip’s shares have recorded a negative growth of over 75% YTD.

Shares of financial technology company Zip Co Limited (ASX:ZIP) closed 10.83% lower today (4 May 2022) at AU$1.03 per share on ASX. This was in line with the broader ASX 200 Index, which fell 0.16% at 7,304.70.


 


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