The child of controversy, internet personality Elvish Yadav is perennially mired in the news for one reason of the other. Now, in a recent development, a stock advice/recommendation from the Bigg Boss winner appears to have gone awry. As the fortunes of the company invoked crumbled catastrophically.
White Organic Retail Ltd, a Mumbai-based company, which traded at a high of Rs 314 per share in 2022, now stands at a meagre Rs 7.30 per share.
In 2022 December, when Yadav had first shared the news of him buying shares in the entity, White Organic Retail was trading at around Rs 130, at a near Rs 200 decline, from its high, barely a few months before that. Despite this, the influencer went ahead and shared, and thereby recommended the company to his many followers. The tweet/post carrying the message at the time of the story stood at nearly 3,000.
The market capitalization of the stock is presently approximately Rs 25 crore. From May 2021 to February 2022, the stock skyrocketed by a staggering 26 times. However, its trajectory has since been on a downward trend.
This is perhaps another tale of financial, and especially market and investment advice from ill-informed celebrities going wrong monumentally.
Experts often caution individual investors from being placated by such opinions and suggestions, as it involves more risk than benefit.
