Why are Zip shares getting the attention of investors today?

The Zip share price is in the green again today.

Key points
  • Zip is currently the ASX 200's most traded share, with more than 35.4 million stocks in the BNPL giant swapping hands today
  • At the same time, the company's share price is lifting 8% to trade at $1.11
  • The stock has now bounced to trade more than 97% higher than the all-time low it reached late last month

The Zip Co Ltd (ASX: ZIP) share price is surging again on Wednesday as stock in the buy now, pay later (BNPL) favourite flies off the shelf.

More than 35.4 million Zip shares have swapped hands since the market opened this morning, making it the most traded share on the S&P/ASX 200 Index (ASX: XJO).

Meanwhile, the company's share price has lifted 8.29% to trade at $1.11.

For context, the ASX 200 is currently 0.57% lower than it was at Tuesday's close.

So, what's going on with the ASX 200 BNPL share soaring today? Let's take a look.

A woman sits on a chair smiling as she shops online.

Image source: Getty Images

The Zip share price is launching upwards amid a storm of popularity today despite the tech sector's suffering.

Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) – which Zip's stock generally moves alongside – is down 0.54%.

Meanwhile, Zip is leading its actual home sector, the S&P/ASX 200 Financials Index (ASX: XFJ). It's up 0.59% right now.

The market's significant interest in Zip shares follows the stock's 20% gain yesterday. That saw it trading above $1 for the first time in more than two months.

Today's gain also sees the BNPL stock more than 150% higher than the all-time low of 43.5 cents it reached late last month.

Since then, the company has abandoned its planned merger with Sezzle Inc (ASX: SZL) and announced a quarter of notable growth.

However, the Zip share price still has a long way to go before it reaches the long-term green.

The stock has slumped 74% since the start of 2022. It's also trading 83.5% lower than it was this time last year.

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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