Unfortunately for its shareholders the zipMoney Ltd (ASX: ZML) share price has continued its poor run and fell to a 52-week low of 60 cents on Wednesday.
This means the point-of-sale credit and digital payment services company's shares have now lost over 20% of their value since this time last month.
Why are its shares at a 52-week low?
The company's shares have been on a downward path ever since it released its full-year results in late August.
Although the company posted a 348% increase in transaction volume to $230.7 million, investors appear to have been expecting more.
Further to this, there is a chance that investors believe that it is losing ground on the market leader Afterpay Touch Group Ltd (ASX: APT).
In just the last few weeks Afterpay has announced major agreements with the likes of Jetstar and Target. By comparison, zipMoney hasn't announced any notable new customer additions.
