Zomato, Swiggy shares are falling today. Check key reasons, price targets
Shares of food delivery giants Zomato and Swiggy tumbled in early trade on Wednesday, continuing their poor run this year.
Zomato shares fell as much as 5% in early trade and were down 2.60% to Rs 204.36 on the BSE at 11:50 am. The stock has declined 10.5% in the past five trading sessions and over 11% in a month. On a year-to-date (YTD) basis, Zomato’s shares are down over 26%.
Swiggy’s share price also declined sharply and was down 1.88% to Rs 331.30. Like Zomato, Swiggy’s stock has also declined nearly 9% in the past five trading sessions and nearly 4% in a month. Swiggy shares are down nearly 39% on a YTD basis.
WHY ZOMATO, SWIGGY SHARES ARE FALLING
Today’s drop in Zomato and Swiggy’s share prices comes after a media report…
