Sydney, Feb 23, 2026, 17:24 AEDT — The closing bell has sounded.
- Zip shares slipped another 4% on Monday, adding to last week’s slide after results.
- CEO Cynthia Scott, along with three directors, picked up shares on Feb 20, according to filings.
- Investors are watching for the A$50 million buyback, which is set to kick off in early March, as well as this week’s Australia CPI data.
Zip Co Ltd dropped another 3.9% on Monday, settling at A$1.71, despite filings showing top executives picking up shares following last week’s slide. The buy-now, pay-later player, whose core business is instalment lending at checkout, finished well below Friday’s A$1.78 close. (Google)
Zip’s disclosures are in focus—it’s turned into a sort of shorthand for risk appetite in Australia’s consumer credit scene, with minor surprises fueling outsized swings. Following last week’s sharp drop, traders are scouring the details for any sign that the heavy selling is cooling off or settling down.
Zip shares took a sharp dive on Thursday—marking their steepest single-day drop in over ten years—after first-half cash operating earnings came in below Visible Alpha’s forecast. The company indicated that cash earnings in the next half are expected to be about the same as the first, surprising investors. “Guidance for flat growth in the second half caught investors off guard,” said Marc Jocum, senior product and investment strategist at Global X ETFs. (Reuters)
On Feb. 23, four change-of-interest filings revealed that CEO Cynthia Scott picked up 53,342 shares for around A$100,539 on Feb. 20. That same day, three non-executive directors reported their own on-market buys, bringing the group’s total to about 101,510 shares and approximately A$191,000 in value. (Zip)
Zip announced plans on Feb. 20 for an on-market share buyback worth as much as A$50 million, aiming to kick things off around March 6 and possibly continuing for up to 12 months. Scott described the buyback as a sign of “disciplined and balanced approach to capital management,” adding it “demonstrates confidence in the strength of our balance sheet”.
Zip’s half-year update last week showed record cash EBTDA at A$124.3 million, its highest measure of operating earnings to date. Total transaction volume also hit a new peak at A$8.4 billion, with the United States making up 75% of that figure. Net bad debts sat at 1.7% of transaction volume. The company repeated its outlook for second-half group cash EBTDA, saying it should roughly match the first half.
Buy-now, pay-later lenders often move in line with high-beta growth names—rate expectations have been a major driver. The Reserve Bank of Australia hiked its cash rate 25 basis points to 3.85% this month, adding there’s no predetermined course for what comes next. (Reuters)
Still, insider buying isn’t always sharp. Should credit losses rise, or if consumers start to pull back, the shares can stay under pressure—no matter the timing or identity of the buyer.
All eyes shift to Australia’s January CPI figures, landing Wednesday at 11:30 a.m. AEDT. The numbers could steer expectations for the RBA, which meets next on March 16–17. (Australian Bureau of Statistics)
