Zomato in deep trouble?
Zomato Falling? Falling price of shares of Zomato (Pic-of the fall) 23 July 2021, pandemic is going on, the whole country is scared, there is an atmosphere of fear everywhere. In the meantime a huge IPO is announced. Zomato - IPO worth 9367 crore rupees at a valuation of 1 lakh crore rupees. When this IPO came, this is what Rakesh Jhunjhunwala said , "1 lakh became 40000 in Zomato, but you will get after 5 years. Do not sell now, otherwise there will be loss". And he was right. Today it is not even 2 years and today the same stock which was trading at 116 rupees at the time of listing, today, it has come around 50 rupees. And within no time, 64% loss. The valuation of $12 billions has dropped to $5.7 billions. Is Zomato about to go bankrupt? Is Zomato about to go bankrupt? Or is there something going on with the compa...