This beaten-down ASX BNPL share is up 35% in 2 days. Here's why

Investors are sending the ASX buy now, pay later stock through the roof.

| More on:
Happy man wearing a blue shirt and glasses holding a card and using buy now pay later services to purchase a product on his office computer

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX BNPL share Sezzle Inc (ASX: SZL) is rocketing higher again today.

Shares in the buy now, pay later stock closed up 12.8% on Thursday, finishing the day at $18.10.

At time of writing in afternoon trade on Friday, Sezzle shares are trading for $21.72 apiece, up 20%.

This sees the ASX BNPL share up a whopping 35.3% since Wednesday's closing bell.

For some context, the All Ordinaries Index (ASX: XAO) has gained 2.2% over this same period.

Here's why investors are sending the Sezzle share price rocketing.

What's lifting the ASX BNPL share?

Investor sentiment took a bullish turn Thursday morning when Sezzle reported that its long-running efforts to dual list on the Nasdaq Composite Index (NASDAQ: .IXIC) have finally paid off.

The ASX BNPL share had intended to commence trading on the tech-heavy Nasdaq exchange on 17 August.

However, things didn't go as planned.

Nasdaq halted trading in Sezzle shares due to "inadequate publicly available shares of common stock to make a market and facilitate proper trading".

This was because of the large number of shares held by investors in the form of Chess Depository Interests (CDIs) for trading on the ASX. The CDIs can be converted into Sezzle shares on a 1-for-1 basis.

But in good news for the ASX BNPL share, the stock resumed trading on the Nasdaq on Thursday under the ticker (Nasdaq: SEZL). Sezzle will also continue to trade on the ASX under its existing ticker.

According to the release, Nasdaq officials lifted the trading halt after the number of publicly available Sezzle shares eligible for trading in the US held through Depository Trust Company increased.

Sezzle reported there are currently 536,188 shares publicly available for trading.

Sezzle share price snapshot

With the past two days of gains factored in, the Sezzle share price is up a market-beating 39% in 2023.

The ASX BNPL share remains down 5% over the past 12 months and down a precipitous 95% from its February 2021 highs.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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.

More on BNPL shares

A cute young girl stands with her chest thrust out as she zips up the zip of a shiny pink jacket she is wearing.
BNPL shares

Would you be crazy to buy Zip shares at $2.90?

Zip shares have rocketed 904% in a year. Is it too late to buy?

Read more »

A young boy with a sombre face looks down at the zip fastener at the bottom of his jacket as he concentrates on unfastening the clasp.
BNPL shares

Are Zip shares too expensive to buy now?

This stock has zipped higher, but has it reached overvalued territory?

Read more »

A cool dude looks back at the camera while ziplining above the treetops.
BNPL shares

Why the Zip share price keeps going up

It's been triple-digit gains this year for Zip.

Read more »

A young woman smiles as she rides a zip line high above the trees.
BNPL shares

The Zip share price surged another 14% in September. Can it keep running hot into 2025?

That’s despite a sizeable fall today.

Read more »

Man holding a calculator with Australian dollar notes, symbolising dividends.
BNPL shares

$10,000 invested in Zip shares a year ago is now worth…

Was it a good idea to buy this payments company's shares last year?

Read more »

Young girl wearing glasses flexes her left bicep confidently.
BNPL shares

Are Zip shares headed for ASX large-cap status?

Could Zip really become a large-cap blue chip?

Read more »

woman using affirm to pay
BNPL shares

Why Zip shares could still offer 'significant opportunity for growth'

Up 779% in a year, this top fund manager thinks Zip shares can continue to grow.

Read more »

A young woman in a shop hands her credit card to the cashier
Share Gainers

Up 693% in a year, is it too late to buy Zip shares now?

Can the Zip share price continue to outperform after its blistering one year rally?

Read more »