'Retail investors are trapped': What Twitteratis say on Paytm as stock slides

One 97 Communications Ltd (Paytm) shares, whose issue price in the 2021 IPO was as high as Rs 2,150, have come under sever pressure of late, following the Reserve Bank of India's restrictions related to its payments bank. Twitteratis or assumably Paytm investors, were not amused following the stock's 36 per cent plunge in a span of two days..

A person on X (erstwhile Twitter) said: "Not a word of apology to shareholders here. Next time you invest in an unicorn IPO, remember, the founders give a damn for common man's shares. These guys have pocketed VC Uncle ka paisa."  The person was replying to Vijay Shekhar Sharma's tweet where he suggested the Paytm app was working and would keep working beyond 29 February as usual.

Another person posted: You were funded by the Chinese, who got their profitable exit. You made billions. Retail investors lost badly. Jai ho. App chalu rahega."

"Paytm is working and I have also tried to tell that to people. Major problem is of people who trusted you and bought shares in IPO haven’t made a single rupee and have lost only," said a person on X.

A fourth person said he felt for retail investors in Paytm and said retail investors are pretty much trapped.

Also read: Paytm shares plunge 20%, now below Rs 500. What analysts say

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