The Sezzle Inc (ASX: SZL) share price is in free fall today. At the close of trade, shares in the US-based Buy Now, Pay Later (BNPL) provider ended at $8.96 – down 8.38%. It’s not the only tech-focused company having a rough day on the market.
Afterpay Ltd (ASX: APT) is down 5% and Kogan.com Ltd (ASX: KGN) is 3.1% lower. The S&P/ASX All Technology Index (ASX: XTX) lost 2.38% of its value over the day. In fact, the entire market wasn’t so hot today. The S&P/ASX 200 Index (ASX: XJO) ended the day down 0.93%.
Let’s take a closer look.
Why Sezzle was a fizzle
Australian markets tend to follow on from developments in the US. As Motley Fool’s own Scott Phillip’s says “When America sneezes, Australia catches a cold.”
As you can gather, shares in America fell overnight. By close of trade, the tech heavy NASDAQ Composite fell 0.72%. Not as steep as our tech sectors fall, to be sure.
The Sezzle share price has been quite volatile over the last month. It’s reached a high of $9.59 and a low of $8.01 in that time. A 20% range in a very short space of time.
Sezzle share price snapshot
While Sezzle shares are in the red today, they’ve been in the green since the beginning of the year – and greatly so. Its shares are up 43% since the first trading day of this year, an impressive return on investment.