Cupid shares crash 20% to hit lower price band amid high volumes; stock still up 450% in a year
Small-cap stock Cupid crashed 20% to hit the lower price band on Friday, January 2, snapping its 13-day winning streak amid higher-than-usual volumes, during which it rallied 33%.
Over 39 lakh shares of Cupid had changed hands on the BSE as of 2.45 pm, much higher than the two-week average of 5.03 lakh shares. On NSE, 221.59 shares were traded. There were only sell orders for 58 lakh shares on both exchanges combined.
Cupid shares had opened at ₹526 as against the last closing price of ₹524.90. It soon tumbled to the day’s low of ₹419.95 — its 20% lower price band.
(This is a developing story. Check back for updates.)
