Sezzle share price rockets 95% before being frozen. What's going on?

The Sezzle share price is rocketing again today, despite the company's silence.

Key points
  • The Sezzle share price has launched 96% today before being thrown into the freezer at 70.5 cents
  • That leaves the stock 135% higher than it was at the end of last week
  • The market is now awaiting a further announcement from Sezzle

It's been a crazy day – nay, week – for the Sezzle Inc (ASX: SZL) share price. The stock launched a whopping 95% to trade at 70.5 cents this afternoon before being placed in a trading halt.

Its intraday high of 79 cents – representing a near-120% gain – also marked a two-month high for the stock.

For context, the All Ordinaries Index (ASX: XAO) is up 0.3% right now and has traded relatively flat over the last three sessions.

So, what might be driving the ASX buy now, pay later (BNPL) share sky-high this week? Let's take a look.

Two children dressed as space travellers in white suits look on at the smoking wreckage of their tin foil covered carboard rocket in their backyard with one child pulling the other away from the crash site.

Image source: Getty Images

The Sezzle share price has leapt 135% this week

The Sezzle share price has well and truly picked itself up by the bootstraps after a poor start to the week.

It's more than overcome the 13% tumble it recorded on Monday, launching 38% on Tuesday before rocketing into the freezer today.

The company has since announced its unexpected trading halt will precede a further announcement to the market. No further details are currently known.

Today's incredible gains came despite the company maintaining its silence. In fact, the market hasn't heard word from the company since it abandoned its planned merger with Zip Co Ltd (ASX: ZIP).

And while the BNPL favourite's gains are comparatively extreme, it isn't alone in the green. The Zip share price posted a 20% gain yesterday and is up another 19% today.

Though, not all ASX BNPL giants are enjoying a resurgence this week. Stock in Afterpay owner Block Inc (ASX: SQ2) is down 4% right now after slipping around 3% yesterday.

Impressively, the Sezzle share price is currently frozen more than 280% higher than the all-time low of 18.5 cents it inked less than two weeks ago.  

However, it's still a long way off its previous highs. The stock has slumped 77% since the start of 2022. It's also trading 94% lower than the all-time high it reached in mid-2020.

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 Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on BNPL shares

A laughing man standing next to a woman holds out his arm to a payments machine to pay with his smartwatch
BNPL shares

Zip vs Block: Which ASX payments share is better?

See how Zip and Block stack up on value, growth, and momentum – and which payments share I’d buy right…

Read more »

Couple enjoying food at a restaurant.
BNPL shares

What would it take for Zip shares to double?

Could this fallen growth share double over the next few years? I run through the numbers.

Read more »

Woman looking at data on her laptop.
BNPL shares

Is the Zip share price a bargain at $2.09?

I look at the earnings forecasts to see how attractive the shares really are at this price.

Read more »

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
BNPL shares

Zip shares crash another 11% this week: What is going on?

Here's what brokers expect next.

Read more »

A happy shopper with a wide mouthed smile holds multiple shopping bags up around her shoulders.
BNPL shares

Experts tip battered Zip shares to deliver over 90% returns

Zip’s battered share price could be hiding a much brighter future.

Read more »

A happy shopper with a wide mouthed smile holds multiple shopping bags up around her shoulders.
BNPL shares

Experts tip Afterpay owner Block shares to deliver over 50% returns

Block offers investors a compelling long-term fintech growth opportunity.

Read more »

Scared looking people on a rollercoaster ride representing volatility.
BNPL shares

Why Zip shares took investors on a wild ride in August

Zip shares made some big moves in August. But why?

Read more »

Woman with a concerned look on her face holding a credit card and smartphone.
BNPL shares

Is it time to get greedy with Zip shares?

The buy now, pay later provider has suffered several strong headwinds over the past 12 months.

Read more »