This morning, Zomato's stock price dropped by 14%. Find out why the sell-off is so high.

Immediately following the expiration of Zomato's 12-month lock-in period on Monday, the stock's price fell 14% to Rs 46 per share, a new low on the BSE.

Last year, the stock price reached a record high of Rs 169.10 per share, but it has since dropped by 73%.

Zomato's share price has fallen by a whopping 65 percent this year. Stocks have been pushed into oversold territory by the end of the one-year lock-in period, according to analysts.

When Zomato went public on the BSE and NSE in July, investors paid a significant premium of more than 51%.

"Investors should wait to buy Zomato until it closes above 49 on the daily chart.

According to AR Ramachandran, Co-founder & Trainer, Tips2Trades, it may even breach support of 42 if broader market weakness persists.

Zomato's share price has fallen significantly as a result of global tech stock corrections and concerns over the acquisition of Blinkit.

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