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There was plenty of buzz behind MakeMyTrip (MMYT) when India’s largest travel website operator went public two years ago.The stock soared 89% on its first day of trading, making it the hottest debut since 2007 at the time.
MakeMyTrip was hot. And now it’s not.
Shares of MakeMyTrip shed 17% of their value on Tuesday after posting another quarter of disappointing financial results. The stock has shed nearly two-thirds of its value over the past year…and the results get uglier as you work your way down the income statement.