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Remember this tweet? The former shark at Shark Tank India and BharatPe co-founder was all gaga over beleaguered fintech giant Paytm in 2022. The entrepreneur and investor suggested that Paytm’s stock is ‘screaming BUY’ citing the then-value of the company at $7 billion.
@Paytm stock is a screaming BUY ! It’s valued at $7B ; Funds raised itself is $4.6B ; Cash in Hand should be $1.5 B. So at CMP of ₹600, the market is saying value created is $5.5B after having spent $3.1B over last 10 years. That’s less than Bank FD rate. BUY !!
— Ashneer Grover (@Ashneer_Grover) March 17, 2022
Amid the ongoing crisis at Paytm, following the RBI restrictions that clipped its wings, the parent company One 97 Communication saw a significant meltdown in the market, with stocks tanking 10 percent at Rs 438.35 on the BSE yesterday and a 9.99 percent slash at Rs 438.50 on the NSE yesterday. The company suffered a loss of Rs 20,471 crore in market valuation in three days alone. Netizens were quick to open Ashneer Grover’s tweet tip vault from 2022 and slam. Reacting to one such tweet, the Doglapan author remarked, ‘Bhai upar jaane pe bechna bhi hota hai!’
Bhai upar jaane pe bechna bhi hota hai ! https://t.co/Y3Yy9yqoJ8 pic.twitter.com/xwkPoyoqjq
— Ashneer Grover (@Ashneer_Grover) February 6, 2024
But the netizens were in no mood of letting the Third Unicorn founder scoot with a jibe, slamming him for not alerting when to sell as well. One user remarked, “Jab buy ke liye bola tha toh sell ke liye bhi bolna tha!” Another user asked Grover why he was not taking a controlling stake in Paytm. Yet another user quipped that youngsters should stop admiring the likes of Ashneer, Bhavish (Ola), or Zerodha guy (Nikhil Kamath). The user suggested Infosys co-founder Narayana Murthy as a role model for long-term games, conveniently forgetting his advice of a 70-hour work week.
Jab BUY k liye bola tha toh sir sell k liye bhi bolna tha na
i am concerned about india’s entrepreneurial ecosystem. so hard to find people like narayan murthy who play a long-term game and change the entire country. youngsters should stop admiring chapris like ashneer, bhavish, or zerodha guy https://t.co/DvRLKmYB3j
— Dhiraj Srivastava (@Dhiraj_Ruler) February 6, 2024
🤣🤣 https://t.co/ddPL8Fch6Z pic.twitter.com/WJVbCTBUru
— VK (@vkfintech) February 6, 2024
See Also: Ex-Shark Ashneer Grover Mocks BeerBiceps For Assuming Zomato Makes Biryani
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See Also: Ex-Shark Ashneer Grover Applies For Mamaearth IPO; Netizens Remind Him Of Paytm And Zomato’s Fate
See Also: ‘Shark Tank India’s Ashneer Grover Shares Advice On Paytm Stocks But Netizens Aren’t Buying It
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