The Zip Co Ltd (ASX: Z1P) share price has suffered through the start of 2022 despite only seemingly good news from the company hitting the market.
As of Thursday's close, the Zip share price is $3.07. That's 0.65% lower than its previous close and 29% lower than its final close of 2021.
That's a rough trot on any day of the week. However, it might appear particularly devastating on the back of Zip's stock's 18% tumble in 2021.
Let's take a look at what the company's been up to this year.
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What's been driving the Zip share price in 2022?
The buy now, pay later (BNPL) giant just can't seem to get a break this year.
It's released record quarterly earnings, tantalised the market with major acquisition talks, and taken out the crown as the biggest pureplay BNPL stock.
That's right, when Afterpay delisted following its takeover by Block Inc (NYSE: SQ) – formerly named Square – Zip became the ASX top BNPL dog.
Though, the shadow of the ASX's former favourite was left on the exchange in the form of Block Inc CDI (ASX: SQ2).
Additionally, in January Zip announced its transaction volumes increased 53% in the 3 months ended 31 December 2021 compared to the same period of 2020.
All up, it saw $2.6 billion worth of transactions in the December quarter, with a 57% jump in customers driving the increase.
Finally, Zip admitted it was pushing to acquire fellow ASX-listed BNPL company Sezzle Inc (ASX: SZL) late last month.
However, the company was careful not to get the market's hopes up over another ASX BNPL takeover. It was clear there was no guarantee the companies would come to an agreement.
But none of that has slowed the Zip share price's tumble.
What could be weighing on Zip in 2022?
The Zip share price could be suffering on the sentiment of the BNPL market.
Some experts are questioning the BNPL industry's future while others question the outlook for the entire tech sector.
Speaking of the tech sector, the S&P/ASX 200 Info Tech Index (ASX: XIJ) and the S&P/ASX All Technology Index (ASX: XTX) are struggling in 2022. They've fallen 17% and 15% respectively year to date.
Meanwhile, the stock remains one of the ASX's most shorted. It had a 10% short interest as of The Motley Fool Australia's most recent weekly update.
Though, not all are bearish on the Zip share price. As The Motley Fool Australia's Tristan Harrison recently reported, Ord Minnett has slapped it with a price target of $6.
