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Meesho Shares Crack 5% as Weak Q2 Outlook Spooks Street
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Meesho's shares have cracked 5% after the company announced a weak Q2 outlook. The company expects on-year growth in net merchandise value (NMV) to dip in the July-September quarter.
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Meesho Shares Crack 5% as Weak Q2 Outlook Spooks Street
Meesho's shares have cracked 5% after the company announced a weak Q2 outlook. The company expects on-year growth in net merchandise value (NMV) to dip in the July-September quarter. The company plans to increase spending on acquiring new users as it builds up to the festive season. The softer growth forecast stems from Meesho shifting its flagship Mega Blockbuster Sale to the October-December quarter. The company's management has not commented on the reasons behind the weak outlook.
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