One of the most popular stocks to buy among retail investors in 2021 has now produced one of the biggest share price collapses in modern memory.
Professional investors who tipped into Zip Co’s $148.7 million capital raising at $1.90 per share in March 2022 are now down $86.8 million, or 58.4 per cent, over a horror three-month run for the broader buy now, pay later sector.
But with shares at 79¢ today everybody’s underwater and the retail bag holders are nursing paper losses around $11 million from the $24 million cash they paid for more Zip shares.
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