Zip Shares ASX Sink 33% as Market Reacts to Half-Year Report

Zip Co Ltd shares on the ASX plunged nearly 33% on February 19, 2026, sending shockwaves through the Australian stock market. The sharp fall came just hours after the buy now, pay later firm released its half-year FY26 financial report, which showed strong revenue growth and a big jump in profit. At first glance, the numbers looked solid. Yet investors focused on one key detail, flat earnings guidance for the second half.