Zomato share has misplaced over 60% of its worth since its itemizing.
New Delhi:
Zomato, the Indian meals supply big, noticed its shares fall greater than 14% to a report low on Monday, as a one-year share lock-in interval for promoters, workers and different buyers ended. Zomato, which made a stellar inventory market debut on July 23 final yr, has misplaced over 60% of its worth since then.
The Zomato inventory was buying and selling at Rs 46.80 when the markets closed right this moment, however the crash didn’t happen on Twitter the place Zomato was trending excessive with memes.
Zomato #zomato buyers to deepinder goyal @deepigoyal Sir : pic.twitter.com/GQSYUUdW95
— Bikash Kumar (@Bbb71943929) July 25, 2022
#Zomato buying and selling @ Rs.48/-
Zomato chart proper now pic.twitter.com/e927MSaAND
— Ahmad Sadat Nawfal (@sadat_nawfal) July 25, 2022
On Monday, the inventory posted its greatest intraday drop since January 24. The corporate now has a market worth of Rs 36,600 crore ($4.58 billion), in contrast with Rs 1.29 lakh crore at its all-time excessive in November.
My buddy who was holding Zomato since IPO
Right this moment after watching that It hits 52 week low once more????#Zomatopic.twitter.com/ASFypmnkNI— Brij Thakkar (@brijthakkar005) July 25, 2022
#Zomato inventory right this moment. Lesson for buyers: Give attention to constructing diversified portfolios. #saynotostockpickingpic.twitter.com/EtERWbiUJT
— mintbox (@mintboxofficial) July 25, 2022
Lately, Zomato’s Board of Administrators authorised a proposal to accumulate fast commerce firm Blinkit, however in response to stories, the buyers usually are not snug with the acquisition of Blinkit.
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