Ashneer Grover who shot to fame with the popular business reality TV show Shark Tank India has been making headlines and not all of them are good. The former BaharatPe co-founder has been taking to social media to air his opinions about everything from his very public resignation to his personal views. His most recent move is an unexpected endorsement for Paytm. In a Tweet, Grover advised that one should buy Paytm shares. This will come as a surprise to anyone who is aware that Ashneer has been a critic of Paytm for a while now.
In a Tweet he wrote, “@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 !!”
@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
This piece of advice is tricky for two reasons – (a) Ashneer has reportedly commented on Paytm stock in the past year and criticised the company’s management. And (b) Paytm shares have fallen and have been on a downward decline since four months now. In fact, the fintech firm’s founder Vijay Shekhar Sharma has lost his billionaire status amidst the plunge.
Whether or not one should hold on to Paytm shares has become a topic of debate. Twitter users are now reacting to Ashneer Grover’s seemingly unpopular opinion.
— ASAN (@Atulsingh_asan) March 17, 2022
This isn’t the first time Ashneer Grover has raised eyebrows for his Tweets. His exchanges with the management of BharatPe have been making waves. He recently responded to accusations made against him about selling T20 World Cup tickets.
Read about it here:
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