Zomato shares plunge after Invesco cut rival Swiggy’s valuationReading Time: < 1 minutes
Shares of Indian food delivery firm Zomato ended session on Tuesday at a decline of 6%, hours after it became known that Invesco had cut the valuation of its rival Swiggy.
Shares of Zomato ended Tuesday’s trading session at 60.94 Indian rupees (or 74 U.S. cents ), a 6% decline over the day’s opening at 64.80 Indian rupees. The share drop wiped over $400 million in Zomato’s market cap.
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