No offense to anybody being high on Nykka. Valuations look sketch, period! After a big sell off in May, Nykaa’s stock price is staying still on weak retail participants. Given that we have entered a bear market, I could see a strong selloff in Nykaa in the future.
My guess for high valuations in Nykaa might be a ‘big market delusion’ and ‘ecommerce disruption potential’.
The business is good as an investment point of view, don’t get me wrong! But I would start seeing Nykaa as fair value stock, when it comes down to around 500 (aka around 23,000 cr Market Cap).
Disc. Not Invested, Just tracking for fun!
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