It hasn't been a great day so far this Thursday for ASX shares and the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 is down a nasty 1.2%. But some ASX tech shares have fared far worse, perhaps due to some hawkish comments from the US Federal Reserve overnight.
Here are 3 such shares that have just hit new 52-week lows today.
3 ASX tech shares sinking to new lows today
Afterpay Ltd (ASX: APT)
Buy now, pay later (BNPL) leader Afterpay has copped a beating today. This payments pioneer has sold off heavily so far this Thursday. It was down almost 11% earlier this morning when it hit its new 52-week low of $71.65 a share. But investors have since pared back those losses slightly and Afterpay is, at the time of writing, down 9.87% at $72.56 a share.
It appears a steep overnight sell-off in Block Inc (NYSE: SQ), the US payments tech share that is close to acquiring Afterpay, could be playing a big role in this sell-off. Block lost more than 8% last night (our time), and it seems ASX investors are giving Afterpay the same treatment.
Zip Co Ltd (ASX: Z1P)
Afterpay's fellow BNPL share Zip Co has not escaped the malaise that is pulling down its larger rival. While today's sell-off isn't quite as nasty as Afterpay's, Zip is still down 4.39% at $3.92 a share so far. But earlier this morning, Zip dipped as low as $3.80 a share (a loss of more than 7%), a new 52-week low.
At that pricing, Zip was a depressing 74% from the company's 52-week high of $14.53 a share that we saw early last year. It's possible the woes of Afterpay and Block are spilling into the Zip share price so far this Thursday.
Airtasker Ltd (ASX: ART)
Keen followers of ASX initial public offerings (IPOs) might remember Airtasker's explosive debut on the ASX boards last year. After investors were treated to a 55% pop when this company listed, many might have taken a liking to Airtasker shares.
Unfortunately, it has been a one-way street since then. Airtasker is today down 4.82% at the time of writing at 79 cents a share. But it dipped down to 78 cents just before lunchtime today. That's a new all-time low for this ASX tech share. It also represents a depressing 60% decline from the company's 52-week high of $1.96 a share that it achieved just after IPO.
