Zomato stock available at less than half price, down 9.5% today

Zomato’s downward trend within the equity market isn’t being slowed down. Today , even though the wider market is in green Zomato’s stock is not good. Today, on BSE the stock jumped by as high as 9.50 percent and fell lower than the price of issue for the first time in its history.

The stock price dropped until the present –

The stock today opened at 83.70 as compared to 82.40 yesterday. After a while, it got stronger and increased to the price of 84.40 however, after that the stock fell quickly. In the next few days, the Zomato stock Zomato dropped by 9.49 percent to 75.75. There was a slight improvement however, even after this the stock was unsuccessful in regaining the loss. By 2 pm, the stock was trading at around Rs 81. This was a decrease by about 1 percent.

Today marks the beginning of the new low mark. –

Zomato stock also reached its lowest point the other day. At present, the price of 75.75 is the all-time low for the stock. This is 8 percent lower than the price at which it was issued. The stock of the company was traded on the market the 23rd of July in 2013 and the price at which it was issued was Rs.76. The stock has sunk as high as 20 percent during the last 4 trading days.

Price dropped below 100 in the very first time since January –

There was a significant drop in the price of stock at Zomato towards the end of January. In the final days of January, the stock was down more than 50. The stock then dropped to 100 rupees for the first time. In the wake of this terrible performance on the market and the company’s mcap sank quite a bit and last month it fell to one lakh crore, for the first-time. The company’s mcap is down to less than 65 million crores.

The is the stock that was trading at its highest three months ago –

Following its listing on the market, the stock gained momentum for a couple of days. On the 16th of November last year, it was at the price of 169.10 that is the highest level ever recorded for this particular stock. It had risen more than 65 percent the day of its listing. The company raised more than 9,375 crore through the IPO. At present, the stock has exceeded 55 percent of the peak.

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