Meesho shares jump 14% Thursday morning on heavy volumes
Business
Meesho, the SoftBank-backed e-commerce platform, saw its shares jump 14% on Thursday morning as trading activity spiked: over 3 crore shares changed hands in just 90 minutes, way above the usual.
The stock has gained 16% over the past month and in two of the last three trading sessions.
Meesho market cap at ₹75,854.60cr
With this rally, Meesho's market cap hit ₹75,854.60 crore and the stock now trades at 55% above its IPO price of ₹111.
Their IPO last year was a blockbuster: oversubscribed 79 times!
Analyst opinions are mixed right now: some say buy, others suggest holding or even selling.
Still, Meesho's momentum is hard to ignore: it's up 16% just this past month.