Railway stock’s $3 billion loss spawns Mumbai trader meme fest – The Peninsula Qatar
- Date: 21-Oct-2021
- Source: The Peninsula Qatar
- Sector:Financial Markets
- Country:Qatar
Railway stock’s $3 billion loss spawns Mumbai trader meme fest – The Peninsula Qatar
An Indian railway company shed $3 billion in market valuation over just two days, spurring an online blitz of memes from frantic traders.
Shares of Indian Railway Catering and Tourism Corporation Ltd., a state-run firm with a monopoly on online booking of rail tickets, plunged 25% over Tuesday and Wednesday. The selloff was sparked in part by a downgrade at IIFL Securities Ltd. after the stock had tripled since the start of the year.
People flocked to Twitter to vent their frustration, using imagery of horrible accidents, roller coasters and pop culture including the Netflix hit "Squid Game”. Others laughed at the expense of FOMO traders who seemingly had bought too late.
Select Sector 
Select Country 
