On Wednesday, shares of food aggregator zomato fell 8% to an all-time low of Rs 75.75 on the bombay Stock Exchange (BSE), putting the stock less than its IPO issue price of Rs 76. The stock has been plummeting for the past three trading sessions, losing more than 17.5 percent over that time. As Zomato's stock plummeted on Tuesday, twitter users drew parallels with Paytm. "Zomato is the new Paytm," one user said.
Zomato's stock went public for public market on July 23, 2021, and it soared 65.8% on its first day. On november 16, 2021, Zomato's stock reached an all-time high of Rs 169.10. However, the stock is presently trading at a discount of nearly 55% to its all-time peak. However, unfazed by all of this, twitter was awash in memes and jokes about Zomato's stock market meltdown. The Twitterati quickly drew a parallel between zomato and Paytm, that has also recently suffered a huge setback. "Zomato is the new PayTM," one user said.
"After making investments in zomato rather than purchasing dinner," another user captioned a photo of a disgruntled man. Some individuals were even more inventive than others. "Zomato is sold at tomato price 78," one user said. "Now after 6 months zomato investors comprehended ki kyu 'dhaak dhaak' horala thaa zomato ko listing k time," someone responded on the timeline with a humorous emoticon.
Zomato's stock went public for public market on July 23, 2021, and it soared 65.8% on its first day. On november 16, 2021, Zomato's stock reached an all-time high of Rs 169.10. However, the stock is presently trading at a discount of nearly 55% to its all-time peak. However, unfazed by all of this, twitter was awash in memes and jokes about Zomato's stock market meltdown. The Twitterati quickly drew a parallel between zomato and Paytm, that has also recently suffered a huge setback. "Zomato is the new PayTM," one user said.
"After making investments in zomato rather than purchasing dinner," another user captioned a photo of a disgruntled man. Some individuals were even more inventive than others. "Zomato is sold at tomato price 78," one user said. "Now after 6 months zomato investors comprehended ki kyu 'dhaak dhaak' horala thaa zomato ko listing k time," someone responded on the timeline with a humorous emoticon.
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