Meesho's Wild Ride: Stock Doubles in Days, Then Plunges 11% Amid Profit-Booking

• Meesho's shares doubled IPO investors' money in just four trading days post-listing.
• The stock surged to a record high of ₹233.50, 110.36% above its ₹111 IPO price.
• Subsequently, it plunged over 11% due to intense profit-booking, with its market cap falling below ₹1 lakh crore.
• Global brokerage UBS initiated a 'buy' rating, citing Meesho's asset-light model and focus on Tier 2/3 cities, setting a ₹220 target.
• The ₹5,421.20 crore IPO was subscribed 81.76 times and listed at a 46% premium on December 10.

Why It Matters: Meesho's stock experienced a dramatic post-IPO surge, doubling investor money, followed by an 11% plunge.