Why edtech firm PhysicsWallah's stock is down 50% since listing
PhysicsWallah's stock declined after a post-listing high following its market debut last November.
After listing at ₹145 on the NSE and ₹143.10 on the BSE, it's now down to ₹89.05—dropping in three out of the last four sessions.
The company's market value has nearly halved from ₹45,975 crore at listing to about ₹25,451 crore today.
What does the company do?
Founded by Alakh Pandey in 2016, PhysicsWallah helps students prep for exams in 11 Indian languages through both online content and 303 offline centers across India and the Middle East.
The company saw over 40% revenue growth last year and is guiding for growth of over 30% in the coming years.
Co-founder Prateek Maheshwari is optimistic about hitting profitability within a year.
Technicals and other factors
The recent end of the lock-in period freed up 71.7 million shares (about 3% equity), making them tradable.
Still, the stock's RSI is around 27 (readings below 30 are typically considered oversold).