Zip Co shares slide as Australian Retirement Trust tops 5% stake; buyback start date nears
Zip Co shares closed at A$1.60, down 6.4% Tuesday, after Australian Retirement Trust disclosed a 5.145% stake. CEO Cynthia Scott and several directors bought shares following last week’s earnings update. Zip plans an on-market buyback of up to A$50 million starting March 6. The stock is down about 36% over the past week.