As Zomato Stock Price Falls To A Record Low, Memes Rise On Twitter

As Zomato stock price drops to record low, Memes surge on Twitter

Zomato stock has lost more than 60% of its value since its listing.

New Delhi:

Zomato, India’s food delivery giant, saw its stock drop more than 14% to a record low on Monday, as a year-long stock-lock period for promoters , employees and other investors ended. Zomato, the outstanding company that launched on the stock market on July 23 of last year, has lost more than 60% of its value since then.

Zomato shares were trading at Rs 46.80 as of market close today, but the crash did not occur on Twitter, where Zomato is trending high with the meme.

On Monday, the stock posted its biggest intraday drop since Jan. 24. The company now has a market value of Rs 36,600 ($4.58 billion), compared to Rs 1.29 lakh crore. at an all-time high in November.

Recently, Zomato’s Board of Directors approved a proposal to acquire the fast-trade company Blinkit, but according to reports, investors are not comfortable with the acquisition of Blinkit.

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