Nureca chart put up shows massive investor wealth destruction especially those who bought near the top of 2000 levels. On GMMA chart, a clear cut double top was visible at 2000 and pattern was confirmed once price broke below 1400. Target for pattern was 800. But seems stock price is falling into a bottomless pit with current levels well below 400.
Here too the post IPO story is typical. IPO Price was 400, but market craziness aided its rally to go up to 2000 levels before the cookie started crumbling. The Covid times helped this company with higher sales of commodity products like Pulse oxymeter, BP instruments etc… There are loads of companies making these kind of products and there is no moat in this line of business. One just needs to check on e commberce websites like amazon, flipkart etc to get an idea about the range of products available for this kind of products…
Key learning is to avoid getting sucked into hot IPOs post listing especially during IPO frenzied markets… This is one pattern that keeps on repeating every few years.
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