The Sezzle (ASX:SZL) share price plummeted 8% today

Sezzle was more of a fizzle today as the entire tech sector slumped.

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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.

Should you invest $1,000 in Sezzle right now?

Before you consider Sezzle, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Sezzle wasn't one of them.

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*Returns as of August 16th 2021

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Sezzle Inc. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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