Zip Co Limited [ASX:Z1P] offers credit and digital payment services to consumers and businesses. The two primary services offered by Zip Co are Zip Pay and Zip Money.
What’s the news behind the current move?
On 22 February, Z1P released its 2019 first half results. Z1P saw an increase of 114% in revenue along with a 100% increase in customers.
The market reacted swiftly to this news and is pricing in more potential growth to come.
What’s next for Zip Co’s share price?
Z1P shares rose 12.5% on Monday.
Recently, Z1P announced plans to raise further money from investors to fund its expansion plans.
Z1P said yesterday that its Share Purchase Plan was ‘oversubscribed’. That means the interest and demand from investors was very high.
Z1P has a bright outlook. It operates in an exciting sector and now has funding to grow the business.
However, it’s also had a prodigious rise so far this year. The stock may pause in the short term as traders take some profits and the market digests the latest developments.
Z1P certainly remains a stock for your watchlist as it grows.
This is not an endorsement to buy or sell shares in Z1P. This is an update only.