The Zip Co Ltd (ASX: ZIP) share price is continuing to recover on Tuesday, gaining 5.91%.
There’s been no news to explain the lift.
Though, it’s worth noting the buy now, pay later (BNPL) stock struggled through April, recording a 26% slump for the month despite a last minute 8.9% boost on Friday.
At the time of writing, the Zip share price is $1.17. That’s 17% higher than the new 52-week low it struck last week.
For context, the S&P/ASX 200 Index (ASX: XJO) is slipping today. It’s currently down 0.1%.
Let’s take a look at what might be going on with the BNPL giant on Tuesday.
What’s going on with the Zip share price today?
The Zip share price is in the green once more today, bringing its gains for the last 3 sessions to nearly 16%.
The BNPL stock’s gains come as the ASX tech sector outperforms the broader market.
While Zip is technically a constituent of the financial sector, it tends to trade alongside the S&P/ASX 200 Information Technology Index (ASX: XIJ).
They’re currently up 6.45%, 5.62%, and 5.19% respectively.
The broader technology sector is also gaining. The S&P/ASX All Technology Index (ASX: XTX) is up 1.35% right now.
Unfortunately, today’s rise is barely putting a dent in Zip’s year to date losses.
The BNPL provider’s stock is still trading for 72% less than it was at the start of 2022. It’s also 84% lower than it was this time last year.