The Zip Co Ltd (ASX: ZIP) share price is ending the week on a high after yesterday’s catastrophic session.
And it’s not alone in its gains. The tech-adjacent stock is leaping alongside many of the S&P/ASX 200 Index (ASX: XJO)’s technology shares.
At the time of writing, the Zip share price is trading at 97 cents, 3.74% higher than its previous close.
For context, the ASX 200 is also in the green, gaining 1.35%.
Let’s take a look at what might be going on with the buy now, pay later (BNPL) provider’s shares.
Zip share price takes off on Friday
Zip shares are back on the horse after tumbling to a multi-year low of 91.5 cents in intraday trade yesterday.
And the BNPL stock was joined in the red by most ASX 200 tech shares. In fact, the S&P/ASX 200 Information Technology Index (ASX: XIJ) fell a whopping 8.7% on Thursday amid news of inflation overseas.
But today’s a new day. The tech sector is up 4.89% on Friday with none of its constituents recording a loss.
Despite today’s partial rebound, the Zip share price is 77% lower than it was at the start of 2022. It has also dumped 85% since this time last year.