The Sezzle Inc (ASX: SZL) share price is not having a great start to the trading week this week. Sezzle shares are currently down a hefty 5.3% at the time of writing to $8.75 a share.
Since last Friday, the shares are now down close to 8%, and more than 25% off of the buy now, pay later (BNPL) company’s February all-time high of $11.99. In saying that, Sezzle is also still up almost 40% year to date, and 194% over the last 12 months.
But Sezzle’s fall today is a rather strange one. Not because of its size – BNPL shares are notoriously volatile. No, because of what’s going on with the other BNPL shares in this space today. Out of most of ASX’s BNPL shares, Sezzle is alone in the red today.
ASX BNPL pioneer Afterpay Ltd (ASX: APT) is having a strong day today, up 2.13% to $105.72 a share. This company is now up more than 25% since 13 May. The ASX’s second-largest BNPL player is Zip Co Ltd (ASX: Z1P). Zip is also feeling the love from the markets today, with a similar gain of 2.38% as well to $7.32 a share.
So what’s going on with Sezzle today then?
Sezzle share price not sizzling
Well, it’s hard to say. There have been no major news or announcements out of the company, save for some routine paperwork involving Sezzle’s US dual-listing. We also learnt this morning that a couple of Sezzle’s directors have been moving some shares and options around. However, it’s worth noting that the Sezzle share price has been on something of a short-term run lately. Sezzle shares are now up 16.6% since 2 June, even after accounting for today’s drop.
Even though Sezzle is down today whilst other BNPL companies like Afterpay and Zip are rising, it’s not the only BNPL share in the red today. Some of the ASX’s other smaller BNPL companies are also falling. These include Laybuy Holdings Ltd (ASX: LBY), down 4.1%, Openpay Group Ltd (ASX: OPY), down 1%, and Humm Group Ltd (ASX: HUM), down 1.7%. So Sezzle isn’t the only one out in the cold today.