PC Jeweller Acting Crazy – Stock Plunges 28% This Time
On Tuesday, Shares of the jeweller came out of the F&O ban. Today, the stocks of PC Jeweller plunged 28 percent after rallying 117 per cent in the past three sessions.
In the morning session, the BSE Sensex went up 77 points, or 0.22 per cent, at 35,285. The stock even hit an intra-day low of Rs 173.55 against its previous close of Rs 240.70 on the BSE, a drop of as much as 28 per cent.
At around 10.12 am, it was down 11 per cent at Rs 214.25.
On 20th April, and on 2nd of May, it was observed that the stock had plunged 63 per cent. Some analysts are of the view that it is extremely difficult to make a judgment on what business prospects of the company look like and therefore, you are nearly taking a speculative bet either way and that is not something that is necessarily very comfortable for most investors.
Few analysts have also stated that they have seen too many things fizzle out very quickly. So for most investors, they would suggest that it is better not to be dabbling in stocks where there are some question marks that may come up and which are not yet clarified.