The embattled Zip Co Ltd (ASX: ZIP) share price is recovering some of its earlier losses as the end of the trading week approaches.
The buy now, pay later (BNPL) giant's stock traded within half a cent of its 52-week low of $1 this morning.
Fortunately, it's since bounced back. At the time of writing, the Zip share price is $1.04, 2.35% lower than its previous close.
That's relatively in line with the broader market's performance on Friday. The S&P/ASX 200 Index (ASX: XJO) is currently trading 2.39% lower while the All Ordinaries Index (ASX: XAO) has dropped 2.49%.
Let's take a closer look at what might be impacting the stock on Friday.
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Zip share price recovers some of Friday's losses
The Zip share price is trading higher – though, still in the red – this afternoon after avoiding hitting its 52-week low by a fraction of a cent.
The stock is now trading just 5% lower than it was at the end of last week. The ASX 200 also has dumped around 3% since last Friday's close.
And while the BNPL stock is certainly in the red, it's outperforming the tech sector.
The S&P/ASX 200 Information Technology Index (ASX: XIJ) is currently down 4.36%.
While Zip is technically at home on the S&P/ASX 200 Financials Index (ASX: XFJ) – which has fallen 2.09% today – it more often trades in line with the tech sector.
The tech index's plunge is being led by the Life360 Ltd (ASX: 360) share price's 10% tumble.
Meanwhile, stock in Block Inc (ASX: SQ2) – the new owner of Zip's former BNPL peer Afterpay – is one of the sector's better performers, recording a drop of just 1.8%.
Today's falls included, the Zip share price is 76% lower than it was at the start of 2022. It has also tumbled 85.5% since this time last year.
