Why the Humm (ASX:HUM) share price just hit a 52-week low
James Mickleboro | May 13, 2021 10:12am |
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Humm Group Ltd(ASX: HUM) share price is under pressure on Thursday morning.
At the time of writing, the financial services company’s shares are down 2.5% to a 52-week low of 85.5 cents.
Why is the Humm share price tumbling?
Investors have been selling the company’s shares this morning after weakness in the tech sector offset a reasonably upbeat trading update.
According to the release, Humm’s buy now pay later (BNPL) business reported record transaction volume of $100.8 million during the month of March. This led to its third quarter volume reaching $264.8 million, which was up 33% on the prior corresponding period.
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Why the Humm (ASX:HUM) share price will be on watch on Thursday
James Mickleboro | March 17, 2021 4:27pm |
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Humm Group Ltd(ASX: HUM) share price will be one to watch on Thursday.
This follows the release of an announcement by the financial services company just as the market closed on Wednesday.
What did Humm announce?
This afternoon Humm announced the pricing of $450 million of asset-backed securities (ABS), which is significantly more than previously planned. These are supported by a pool of fully amortising, secured commercial auto and equipment finance receivables.
According to the release, strong investor demand enabled a upsize of $150 million over the launch amount previously flagged in February. The receivables are originated through flexicommercial.
The Zip (ASX:Z1P) share price just keeps on falling
Kerry Sun | March 11, 2021 2:30pm |
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Zip Co Ltd(ASX: Z1P) shares might have shocked investors this morning after falling by as much as ~7% to a one-month low of $7.79. The Zip share price has since staged a significant intraday recovery to be down just 1.78% at the time of writing.
ASX 200 tech shares under pressure
The
S&P/ASX Information Technology (ASX: XIJ) index continues to face relentless selling pressure and is currently down nearly 2% today.
The index’s five-day performance sits at -3.20% while its one-month performance is a shocking -18.2%. This compares to the