The Afterpay (ASX:APT) share price is falling on Friday

It's a bad day for the tech index, and Afterpay is among the leaders of its downfall.

white arrow pointing down

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Afterpay Ltd (ASX: APT) share price is dropping today, along with the entire tech sector.

Currently, the buy now, pay later (BNPL) giant's shares are trading for $116.85, 5.5% lower than they were at yesterday's close.

The Afterpay share price's woes are dragging on the S&P/ASX All Technology Index (ASX: XTX), which is dipping 3.18% right now.

The broader market is also falling today. The All Ordinaries Index (ASX: XAO) is down 1.33% and the S&P/ASX 200 Index (ASX: XJO) is falling 1.37%.

Let's take a closer look at how the Afterpay share price is performing today.

What's up with Afterpay today?

The Afterpay share price opened at $121 today. That was 2.1% lower than its previous closing price of $123.65.

It's since plummeted lower, losing the 4.5% it had gained since last Friday's close. Unless it makes a comeback this afternoon – which is seems unlikely right now – Afterpay will finish the week in the red for the second week in a row.

Fortunately or unfortunately, Afterpay isn't alone in its pain today.

The company's BNPL competitor Zip Co Ltd (ASX: Z1P) is suffering alongside it.

The Zip share price is currently 5.24% lower than its previous close, with shares in the company trading for $8.32.

Afterpay share price snapshot

Today's major fall has put Afterpay shares back in the red. They're currently down 2.47% year to date.

However, they're still trading for 57% more than they were this time last year.

The company has a market capitalisation of around $35.8 billion, with approximately 290 million shares outstanding.

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 shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on BNPL shares

A woman sits back and enjoys the view from a paraglider, indicating share price lifts for ASX travel and adventure shares
BNPL shares

Up 71% in 3 weeks, have Zip shares topped out?

Despite the stellar run higher, Zip shares are still trading at a fraction of their February 2021 highs.

Read more »

A woman sits on a chair smiling as she shops online.
BNPL shares

Why is the Zip share price the best-performing ASX 300 stock so far this year?

The best-performing ASX 300 stock of 2024 so far is an unlikely hero.

Read more »

A happy girl in a yellow playsuit with a zip gives the thumbs up
Share Gainers

If I'd put $5,000 into Zip shares on 9 October, here's what I'd have now!

The stars have been aligning for Zip shares.

Read more »

woman using affirm to pay
BNPL shares

Up 288% in 6 months, Zip share price tipped for more outsized gains

Zip shares have rocketed 288% in just six months.

Read more »

A businessman stacks building blocks.
BNPL shares

Up 93% since October, why are Block shares marching ahead again on Friday?

ASX 200 investors have been snapping up Block shares.

Read more »

A man wearing glasses and a white t-shirt pumps his fists in the air looking excited and happy about the rising OBX share price
BNPL shares

Zip share price up 58% in 7 trading days! What's going on?

This BNPL provider has been on fire recently. But why?

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
BNPL shares

Shares sold: Why Zip is under fire from its own shareholders

Some Zip investors had their shares sold without their knowledge.

Read more »

Sad woman with her hand on her head and holding a credit card.
BNPL shares

Zip share price tumbles 9% despite explosive first-half growth

Zip had a strong half and delivered a big improvement in key metrics.

Read more »