Ola Electric Stock Fall: There has been a huge decline in the shares of electric two wheeler manufacturing company Ola Electric in the stock market for the last few days. The share price has fallen by 78 percent from its peak so far.
Due to the fall in company shares, domestic investors as well as foreign investors have suffered huge losses. Global investors include SoftBank-owned SVF II Ostrich (DE) LLC and Temasek Holdings-linked MacRitchie Investments. The question arising in the minds of investors is whether to hold the shares or sell them?
Company’s condition on BSE
A slight rise was seen in the company’s shares at the end of the trading day on Tuesday, December 23 on BSE. Company shares closed at Rs 34.76 with a rise of 0.26 percent or Rs 0.09. Company shares started the day at Rs 34.60.
Investors have suffered huge losses.
The sharp fall in the shares has given a big blow to the investors of Ola Electric. The company’s shares have fallen by about 78 percent from their highest level. Due to which the total wealth of investors has decreased by about Rs 7,956 crore.
SoftBank has suffered a loss of 32 percent so far. SoftBank has suffered a loss of about Rs 1,083 crore on the cost of its investment. Similarly, MacRitchie Investments has also suffered huge losses.
Advice for retail investors
According to a report published in Navbharat Times, Kranti Bathini, Director-Equity Strategy, Wealth Mills Securities, has advised investors to adopt a wait and watch strategy. He believes that after such a huge loss, this is not the right time to exit the stock.
As for Kranti, investors should wait for a few more quarters. He also advised that investors who can take more risk can make contra bets.
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