Zomato Share Crash: The stock of Zomato has seen a huge decline for the last two days. The stock is down 23 per cent in two days. But on the fall in Zomato’s stock, stock market veteran Shankar Sharma is reminded of the dialogue of Bollywood emperor Amitabh in the film Deewar, which he said in the film on hearing the news of his father’s death.
Zomato’s share reminds me of the film Deewar!
Shankar Sharma tweeted on the crash of Zomato stock and wrote that the stock of Zomato reminded him of Amitabh Bachchan’s dialogue which he had said on hearing the news of his father’s death, “Mar toh he had gone twenty years ago. Today. So only it is being burnt.” Shankar Sharma further writes that, at the time of listing, the game was over.
Zomato stock reminds me of what Amitabh Bachchan said in Deewar on hearing news of dad's death:" Mar to woh bees saal pehle gaya tha. Aaj to sirf ussey jalaya ja raha hai".
It was game over on listing itself.
— Shankar Sharma (@1shankarsharma) July 26, 2022
investors sell in zomato
Shankar Sharma has said by tweeting when Zomato continues to decline. On the completion of one year of listing on July 23, 2022, the lock-in period for investment in the stock, including promoters, employees, and private equity investors, is over for investors who had invested in the stock prior to the IPO. These investors can now sell.
Ashwath Damodaran’s prediction came true
Earlier, Ashwath Damodaran, known as investment guru, had said last year that the value of Zomato’s share is not more than Rs 41. When Zomato was trading at Rs 138 per share. Zomato had fixed its IPO at Rs 76. The stock went up to the level of Rs 169 but is now trading near Rs 41.