Hepsiburada’s Share Price Dropped 35% in One Day

One of Turkey’s first e-commerce sites, Hepsiburada had finished the second quarter of the year with a big drop. The expectations of the company, which issued a warning before the third quarter report to be announced in the coming days, are quite low compared to the past.

Hepsiburada shares experienced a serious decline after the second quarter balance sheet. Shares, this time only 35% drop in one day has worried its investors.

Year-end revenue forecast revised down

Hepsiburada is going through one of the toughest periods it has experienced since its establishment. As the first Turkish company traded on Nasdaq, Hepsiburada experienced a very sharp decline after its warning about the third quarter. With increased customer mobility after COVID-19 restrictions in the alert from the fierce competitive environment Stating that it was badly affected, the company stated that it increased the total discount rate offered to customers and advertising expenditures in order to adapt to these conditions.

The share price of Hepsiburada at the beginning of July was 12 dollars. During the alert session, this price It’s down to $3.5. While the revenue expectation set by the company for the end of the year was 28-29 billion liras before, this expectation decreased to 24 billion liras after the revision. The market value of Hepsiburada, which went public with a sales revenue of TL 6.45 billion in the third quarter and went public with $ 4 billion, has increased with this latest decline. It fell to $1.8 billion.