Famous YouTuber Elvish Yadav, who won the second season of Bigg Boss OTT, is in the news these days as he was recently apprehended by the Noida Police on charges of possession of snake venom. While he is facing personal turmoil in his life, many of his followers, who ventured into the stock market on his advice, have been facing financial turmoil. Looks like Elvish’s expertise on the stock market has backfired as shares of White Organic Retail, in which he had invested and asked his followers to do the same are at an all-time low. There has been a huge decline in this stock in the last two years and this share has fallen from Rs 314 to Rs 7.
On December 19, 2022, Elvish tweeted about investing in White Organic Retail and promised that it could give good short-term returns. A day after this tweet by Yadav, the stock had risen by 7%, prompting many of the YouTuber’s fans and followers to invest in the same. However, very soon the stock prices started going downhill and saw a fall of 95 per cent. On March 18, 2024, the shares of White Organic Retail were trading at Rs 7.65 till the writing of this report.
Two years ago, on February 18, 2022, the value of this stock was Rs 314.35. The price of this share has fallen by 95 per cent in one year. The stock market cap of this company is currently Rs 24.18 crore. Stock markets got a boost due to low-interest rates during the Covid pandemic, due to which shares of White Organic Retail rose. The stock increased 26 times from May 2021 to February 2022. However, after this, a decline was seen.
The company had registered a loss of Rs 21 lakh for the quarter ending December 2023, while it had made a net profit of Rs 1.42 crore in the previous year. No sales were recorded in the December quarter compared to Rs 50.58 crore a year ago.
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