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Ola Electric's stock plunged 16% amid weak sales, shrinking market share, and store cuts, losing 56% in a year.
Ola Electric shares hit a record low of ₹21.21, dropping 16% on the BSE, as weak February sales—3,968 units, a 47% drop from January—and a market share of just 3.5% fueled investor concerns.
The stock has lost 56% in the past year and over 86% from its August 2024 peak, while the company plans to cut its retail stores to around 550 by March.
Slowing EV demand, regulatory scrutiny, and underwhelming deliveries since its IPO have contributed to the downturn.
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Las acciones de Ola Electric se desplomaron un 16% en medio de ventas débiles, reducción de la cuota de mercado y recortes en las tiendas, perdiendo un 56% en un año.