The Splitit Ltd (ASX: SPT) share price is up 20% today to $1.33 after the buy-now-pay-later hopeful yesterday released an annual results presentation packed full of photos of sliced citrus fruits.
However, it did not appear to provide any kind of new trading or operational update for fiscal 2019 other than to reiterate some of the key operating metrics it had previously provided for its fiscal 2018 ending December 31.
Those metrics are that it had "around" 380 retailers signed up to its platform and 118,000 shoppers.
It also recorded just US$790,000 of revenue in 2018 and today's share price surge is hard to explain other than to suggest it could be related to day or momentum traders causing sharp price swings as they attempt to guess the intra-day price direction.
As a buy-now-pay-later tech share Splitit is also likely to track the direction of tech stocks generally and in particular rivals AfterPay Touch Group Ltd (ASX: APT) or Z1P Co. Ltd (ASX: ZIP).
However, speculators should be aware that ultimately Splitit's revenues and profits (or lack of) will determine which way its valuation heads.
