Food aggregator Zomato's shares on Tuesday crashed 8% to hit an all-time low of Rs 75.75 on Bombay Stock Exchange (BSE), taking the stock below its IPO issue price of Rs 76. The stock has been falling for the last three trading sessions and has plunged over 17.5% in the period.
Zomato's stock listed on the exchanges for public trading on July 23, 2021, and surged 65.8% on its debut day. Shares of Zomato hit an all-time high of Rs 169.10 on November 16, 2021. But now the stock is trading over 55% below its all-time high.
Meanwhile, undeterred by all this, Twitter seemed high on memes and jokes on this market crash by Zomato. Twitterati was quick to draw a similarity between Zomato and Paytm which has also witnessed a major loss in the recent past. One user wrote, "Zomato is the new PayTM."
Another user tweeted with a man's grumpy face giving a caption, "After investing money in Zomato instead of ordering food."
Some users were even more creative. One user wrote, "Zomato is available at tomato price 78." Someone was quick to respond on the timeline with funny emoji, "Now after 6 months Zomato shareholders understood ke kyu 'dhak dhak' horela tha Zomato ko listing k time."
This was a witty response to a funny tweet made by Zomato from its official Twitter handle on July 14, 2021, a week before its IPO got listed in the Bombay Stock Exchange. It had then tweeted, "Mereko to aise dhak dhak horela hai."
Here we bring you some more funny tweets that will lighten up your day.
Our purpose is not to humiliate any brand but to lighten up the atmosphere and pray for positive days ahead.
