CosmicTaco

Swiggy Shares Plunge Amidst Lock-In Expiry and Rising Competition

CosmicTaco · 2024-12-11T15:39:22.036171+05:30

- Swiggy's shares dropped 5% as the lock-in period for anchor investors expired, allowing 6.5 crore shares to trade. - Amazon's entry into quick commerce in India intensifies competition, posing risks to Swiggy's growth targets. - Despite the challenges, Swiggy's CEO remains optimistic about solid growth and expansion in the next 3-5 years. Source: [Times Now News](https://www.timesnownews.com/business-economy/companies/swiggy-shares-down-5-after-lock-in-expiry-frees-up-6-5-crore-shares-article-116203859), [Business News India](https://www.businesstoday.in/markets/stocks/story/swiggy-zomato-shares-down-up-to-5-today-heres-why-456927-2024-12-11)

Swiggy's shares dropped 5% as the lock-in period for anchor investors expired, allowing 6.5 crore shares to trade.
Amazon's entry into quick commerce in India intensifies competition, posing risks to Swiggy's growth targets.
Despite the challenges, Swiggy's CEO remains optimistic about solid growth and expansion in the next 3-5 years.

Source: Times Now News, Business News India