Swiggy sinks 16% to record low as quick-commerce losses widen
Shares of Swiggy fell by 16.4% to ₹176.70, marking a record low for the company. This decline raises concerns over cash burn and achieving profitability in its quick-commerce business. Analysts are questioning Swiggy's strategic choices and execution following its market debut. The widening losses in the quick-commerce segment have drawn attention to the company's overall performance.
Mumbai: Shares of Swiggy fell 16.4% to a record low of ₹176.70 on Friday as widening losses in its quick-commerce business renewed concerns over cash burn and the company's path to profitability. The stock has lost more than half its value since its market debut on November 13, 2024.Morgan Stanley said investors would continue to question Swiggy's execution and strategic choices until the company demonstrated consistent performance.
