One-Day One-Company: Zip Co Limited
Australian buy-now-pay-later company $Zip Co Ltd (ZIP.AU)$ said it was weighing an impairment charge on its newly acquired US and European businesses and "deprioritising" a cryptocurrency offering, a blow to the sector's once formidable growth prospects.
For Zip, Australia's second-largest BNPL behind Block's Afterpay, the pandemic boom spurred several acquisitions.
Zip shares rose 4.5%, against a flat market, but are still down 85 per cent since January.
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