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Urban Company's stock drops for 5th straight day
Business
Urban Company's stock just slid over 6% on Monday, capping off five straight days of losses.
After a major run-up earlier this year, shares have now dropped 33% from their September peak and are nearing their original IPO price of ₹103.
The company's ₹59 crore net loss
Despite a blockbuster IPO this year—oversubscribed more than 100 times—Urban Company is facing some tough numbers lately.
The company posted a ₹59 crore net loss, mainly because it's investing heavily in its Insta Help business.
Management says these moves are about building for the future, but admits they're weighing on profits right now.