Ola Electric Mobility stock declined in early trading on Monday, October 7. The shares fell below the Rs 90 mark for the first time since its listing. According to the Live Mint report, the shares reached a low of Rs 89.55 per share, a significant fall of about 9.54% today. The decrease resulted in a 43% correction from the stock's all-time high of Rs 157.40, reached in mid-August.
The co-founder and Chief executive officer of Ola Electric Mobility, Bhavish Aggarwal, got into a hated argument on social media with standup comedian Kunal Kamra after he criticised the company for not having adequate service centres and not refunding affected customers.
Also Read | Ola Electric’s share crashes to Rs 90 as angry customers flood social media.
The argument started when Kamra tweeted a picture of Ola Electric scooters piled up outside its service centres, apparently waiting for service. Aggarwal responded by accusing Kamra of taking money to criticise the company, tweeting, "Since you care so much, Kunal Kamra, come and help us out! I’ll even pay more than you earned for this paid tweet or from your failed comedy career."
"Comedian ban na sake, chaudhary banne chale. Do your research better next time. And the offer to come and help us out in our service center remains open. Take up the challenge. Maybe you’ll learn some real skills for a change," replied Bhavish Aggarwal to Kamra in a post on X.
Kamra hit back, calling the CEO arrogant to which Aggarwal replied, "Chot lagi? Dard hua? Aaja service center. Bahut kaam hai. I will pay better than your flop shows pay you," challenging the comedian to work at Ola’s service centre.
The heated argument between Kunal Kamra and the Ola Electric CEO continued. The reportedly receives over 80,000 complaints monthly and has faced criticism for service delays and unresolved issues, which its CEO did not address in his interactions with Kamra. X users criticised Agarwal's behaviour by judging his tone.
The company recorded its lowest sales figures for 2024, selling 23,965 units in September, marking the second consecutive month of decline. Ola Electric is actively promoting its S1 model of electric scooters in India amid challenges from rivals.