Stock Prices of Swiggy Plummet, Down by 43% During the Recent Yearly Period, Hitting a 52-Week Low
Swiggy's shares hit a 52-week low on a stormy Friday, only to recover slightly and close at Rs 305.4, plummeting by Rs 11 or a whopping 3.48%. This dip follows a three-day, 5.4% plunge, hinting at a cautious investor approach.
This downward trend isn't new for Swiggy. Over the past five days, their shares have taken a nose dive by Rs 17.85, or a mind-bending 5.52% drop. The past month has been just as brutal, with the share price dropping by a staggering Rs 39.20, or 11.38%. And the slide isn't just recent—over the last six months, shares have crashed by a terrifying Rs 150.6, or 33.03%.
On a year-to-date (YTD) basis, the stock is down by a staggering Rs 236.95 or 43.69%. Comparing this to the past year's fall of precisely Rs 150.6 or 33.03%, it's clear that things are grim for Swiggy. However, the Indian stock markets managed to buck the trend on Friday, ending the week on an optimistic note despite some wild swings. The Sensex and Nifty both finished in the green.
Meanwhile, Swiggy's fast-growing food delivery service, 'Bolt by Swiggy', has expanded to over 500 cities across the country. Launched in October 2024, Bolt has already commandeered over 10% of Swiggy's total food delivery orders, according to the company.
Rohit Kapoor, Swiggy Food Marketplace CEO, praised Bolt, stating, "It's tough not to love Bolt when your food arrives faster, hotter, and just the way it should be enjoyed. The secret isn't just the speed—it's the rock-solid operations behind it."
However, beneath this promising expansion, Swiggy's financial performance, rising competition, regulatory scrutiny, pre-IPO shareholder lock-in expiry, and broader market trends have combined to create a perfect storm for their stock's precipitous drop. From widening losses and increasing competition to regulatory challenges and the antitrust watchdog's scrutiny, Swiggy's stock has been hit hard. And with the pre-IPO shareholder lock-in set to expire on May 12, there's a significant concern about potential share sales that could further weigh on the stock price. The overall bearish sentiment in the tech sector hasn't helped either. It's a rocky road ahead for Swiggy's stock market ride, that's for sure!
- Despite the successful expansion of 'Bolt by Swiggy' to over 500 cities, Swiggy's stock market ride has been rocky, with the shares plummeting by a staggering Rs 236.95, or 43.69%, on a year-to-date (YTD) basis.
- The financial performance of Swiggy, coupled with rising competition, regulatory scrutiny, pre-IPO shareholder lock-in expiry, and broader market trends, have created a perfect storm for their stock's precipitous drop.
- Over the last six months, Swiggy's shares have crashed by a terrifying Rs 150.6, or 33.03%, and on a stormy Friday, the shares hit a 52-week low, plummeting by Rs 11 or 3.48%.
- With the pre-IPO shareholder lock-in set to expire on May 12, there's a significant concern about potential share sales that could further weigh on the stock price, adding to the existing bearish sentiment in the tech sector.
