Ola Electric Mobility Ltd. shares are down more than 5% on Wednesday, marking the company’s fourth trading day since its stock market debut. Ahead of its June quarter results, which are expected to be released later today (August 14), the stock is under the spotlight.
Ola Electric is also in the spotlight as it plans to launch its first electric motorbike on Thursday, August 15 at the company’s flagship event, ‘Sankalp 2024’.
Ola Electric made its share market debut last Friday, listing at its issue price of ₹76. The stock afterwards closed its trading debut at a 20% higher circuit, followed by another 20% upper circuit on Tuesday.
On Tuesday, shares ended 1% down due to selling pressure at the stock’s high of ₹129.4. On Tuesday, shares of Ola Electric jumped roughly 70% from their IPO price.
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