InvestorQ : Why has Zomato bounced sharply from lower levels?
vaishnavi mhatre made post

Why has Zomato bounced sharply from lower levels?

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vidhya Laxmi answered.
2 months ago
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Zomato rallied to above Rs70, after recently touching a low of Rs51. The trigger for the bounce is the proposed acquisition of Blinkit, a quick commerce company. The deal will be in the form of a stock swap. In last one month, Zomato gained 16% amidst falling indices. However, this is more of a dead cat bounce after a 70% fall from peak levels.

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