Thanks for the reply!
Regarding Zomato, I am not sure about management quality. Investment disclosures regarding Blinkit acquisition were not very transparent. However, it’s an oligopoly with all other players except Swiggy out of the market. It’s very difficult to make a food delivery business in India as likes of UberEats, OlaChef, Foodpanda etc have failed miserably in the last few years.
It’s very difficult task to invest in falling stocks, in general. These stocks may not do very well for a considerable amount of time. High growth tech stocks may remain out of favour for longer if interest rates remain high.
That said, i am more of a trader than an investor. I don’t have patience to hold a underwater position for long. But given the valuation and forced selling, i find all these opportunities attractive for a short term as well.
Long term, as always, would depend on if management is able to execute well and deliver on the promises of growth and profitability.
Regards
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