Is the Zip share price set to hit another unhappy milestone this week?

Could the Zip share price slide below 90 cents?

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Zip share price Z1P A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price

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Key points

  • The Zip share price has hit a new 52-week low of 90 cents today 
  • The slump has likely led many to wonder if the BNPL share will slide below the milestone 90-cents this week – the lowest it's been since 2018
  • The ASX 200 BNPL share has tumbled 22% over the last fortnight and is defying the tech sector's gains on Wednesday

The Zip Co Ltd (ASX: ZIP) share price has hit multiple disappointing milestones in 2022 and it could be about to hit another.

It was only eight days ago The Motley Fool Australia reported the buy now, pay later (BNPL) stock had dipped below $1 for the first time in years.

And today we’re wondering if the stock will dip below the 90-cent mark – a milestone it hasn’t seen since 2018.

At the time of writing, the Zip share price is sitting at 90 cents, 2.17% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.83%.

Let’s take a closer look at what’s been going on with the BNPL share lately.

Could the Zip share price fall below 90 cents?

 The Zip share price is sitting at a new 52-week low right now, bang on the milestone 90 cents mark.

It’s a sight that not many would have expected to see at the start of 2022. The Zip share price ended last year at $4.33. Since then it has shed a massive 79%.

Over the same period, the ASX 200 has slipped 5% and the S&P/ASX 200 All Technology Index (ASX: XTX) has plummeted 31%.

At the same time, Zip’s ASX-listed BNPL peer Sezzle Inc (ASX: SZL) – which Zip is currently in the process of acquiring – has also tumbled 79%.

Over the last two weeks, the Zip share price has spent just three sessions in the green, falling 22% in that time, alongside the broader tech sector.

But Zip is falling behind its technology peers today. Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is boasting a 1.05% gain while the All Technology Index is up 1.67%.

However, the S&P/ASX 200 Financials Index (ASX: XFJ) – where Zip technically calls home – is down 0.18% at the time of writing.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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