OLA Share Price : Shares of Bhavish Aggarwal-led Ola Electric slipped below Rs 90 on Monday. The reason for the fall in the stock is the constant complaints about Ola Electric's scooters on social media. In the early trading hours, the stock fell by about 9 percent to a low of 89.55. Later, the stock saw a slight recovery and was trading at Rs 90.98 at 12:40 pm, down by about 8.15 percent.

The share was listed at Rs 76

According to the IANS report, Ola Electric's shares were listed in the market in August for Rs 76. After the listing, the stock saw a lot of growth and in a few weeks, the share price almost doubled to Rs 157.40, which is its highest level. Currently, the stock has slipped 42 to 43 percent from its highest level. The reason for the fall in Ola's stock is the continuous negative news for the company. In the September sales figures, the company's market share has fallen to 27 percent, which was earlier more than 30 percent. The company sold 24,665 EV scooters last month. In August, this figure was 27,587 units.

Why are stocks falling?

One of the reasons for the fall in Ola Electric's stock is the increase in competition in the market. Many companies are launching new EV scooters around the prices of their EV scooter series S1. Apart from this, customers are also expressing dissatisfaction with the company's EV scooter on social media. Customers are facing hardware and software problems with the scooter. According to some reports, the company is receiving about 80,000 complaints a month regarding EV scooters. According to trade analysts, the company is currently at a loss and is trading at a high valuation.