Makemytrip ( (MMYT) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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MakeMyTrip shares slumped to a fresh 52-week low as investors reacted to multiple headwinds hitting the online travel player at once. The stock has been pressured by rising jet fuel costs, tight air capacity in India, and worries over a recent quarterly revenue miss and higher finance expenses that have sharply dented unadjusted profits.
Sentiment worsened further after several major brokers cut their price targets on the stock, signaling reduced confidence in its near-term upside. Among the most notable moves, JPMorgan and Goldman Sachs reduced their targets, while Macquarie dropped MakeMyTrip from its closely watched Asia Marquee list, adding to the selling pressure.
More about Makemytrip
YTD Price Performance: -47.94%
Average Trading Volume: 1,711,461
Technical Sentiment Signal: Sell
Current Market Cap: $4.06B
For further insights into MMYT stock on TipRanks’ Stock Analysis page.
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