Well, it's been another dreary day for the Sezzle Inc (ASX: SZL) share price. Sezzle shares are currently down a nasty 4.25% at $1.12 so far in this Wednesday's trading session. That's a new 52-week low for this buy now, pay later (BNPL) share. But not only that, this move represents Sezzle's lowest share price since the COVID market crash of 2020. Yes, the last time we saw this kind of share price from Sezzle was in early April 2020.
This week also represents the first time since 2020 that Sezzle has descended below its ASX initial public offering (IPO) price. Back in July 2019, Sezzle IPO-ed at a share price of $1.22. At the time, they didn't stay at $1.22 for long, rocketing over $2 a share soon after. But, things certainly aren't as rosy today.
What's gone so wrong with the Sezzle share price?
So what's gotten investors fleeing the Sezzle share price? Well, it's not entirely clear. But the markets have been in an unforgiving mood of late for most ASX BNPL shares. Sezzle's fellow BNPL player Zip Co Ltd (ASX: Z1P) has hit a new 52-week low today as well.
Speaking of Zip, it's possible that investor sentiment regarding the company's planned acquisition of Sezzle might have played a role in the low share prices we see today. When the all-scrip tie-up was first announced earlier this year, Zip's shares fell substantially while the Sezzle share price rose. But investors have since sent Sezzle down to new depths, which we see the latest of today. It would seem that investors of both companies are both uninspired (to say the least) when it comes to the merger.
So a general distaste for ASX BNPL shares from the markets may be responsible for Sezzle's new lows today. Or it could reflect the attitudes of investors toward the Zip-Sezzle tie up. Whatever the reason, no doubt Sezzle shareholders are hoping for brighter days ahead.
At the current Sezzle share price, this ASX BNPL share has a market capitalisation of $235.27 million.
