Allegro shares down 50% in a year as Amazon battle looms

Allegro shares on the WSE are falling to an unprecedented level. On Tuesday, their price dropped below PLN 43 for the first time. And this is less than in the Allegro public offering in October 2020. As Rafał Hirsch of businessinsider.com said, it was the largest public offering in the history of the Warsaw Stock Exchange.

On Tuesday, Allegro shares fell by 11 percent. The reason is the disappointment of investors with the company’s forecasts for the last quarter of 2021. The results are to be in line with previous forecasts. And it was hoped that the forecasts would be raised. In the third quarter, the operating profit EBITDA amounted to PLN 457 million, while the market expected PLN 486 million.

This means that those who then decided to invest in Allegro shares cannot count on any profit today. As Hirsch notes, the company’s stock has been falling for many months. From the beginning of the year, Allegro has lost 50% of its value.

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