Elvish Yadav’s Controversies Bring Penny Stock Down By 95% 

YouTuber and Bigg Boss OTT season 2 winner Elvish Yadav is definitely controversy’s child. Often, Elvish’s name is embroiled in unpleasant incidents which has led to skirmishes with fellow creators, brushes with the law and exits from reality shows. And now, a penny stock recommended by Elvish Yadav some years ago, White Organic Retail Ltd, has slid 95% in the span of 15 months.

On December 19, 2022, Yadav said he foresaw good short-term potential in a penny stock called White Organic Retail. “For My Stock Market People. Added WORL@₹128-135 today to my portfolio. Looks good in short term,” Yadav said on Twitter.

For My Stock Market People

Added WORL@₹128-135 today to my portfolio. Looks good in short term.

— Elvish Yadav (@ElvishYadav) December 19, 2022

According to reports in Moneycontrol.com, the day after Elvish shared the message, the stock experienced a 7% surge. Unfortunately, the stock has witnessed a significant decline, losing 95 per cent of its value since Yadav’s mention and is currently trading at Rs 7.5.

The market cap of the stock is currently around Rs 25 crore. With low interest rates during the Covid pandemic giving a boost to stock markets, shares of White Organic Retail soared. The stock soared a massive 26 times from May 2021 to February 2022. However, the trajectory has been downhill since then.

The company faced a loss of Rs 21 lakh in the quarter ended December 2023 compared to a net profit of Rs 1.42 crore in the same period a year ago. There were no sales reported in the quarter ended December 31 against Rs 50.58 crore in the year earlier.

Following the crackdown on fininfluencers who have been randomly dishing out tips and hints to retail investors, the government has cautioned everyday investors to be wary of celebrity endorsements, pointing to the stock’s performance as a lesson to be careful.

On Saturday, Elvish Yadav shared a video revealing that YouTuber Sagar Thakur (Maxtern) had threatened him and his family. He also revealed that the incident was planned, with hidden microphones and cameras installed by Thakur. However, the next day, Elviah posted a happy picture with Thakur on Instagram, suggesting they’ve sorted things out. He captioned the photo, “Ek Ghar Mai Bartan Hote Hai Bajege toa sahi. Bhaichara On Top. (Every house has its noise, but that’s okay. Brotherhood On Top.).”

Elvish Yadav won the second season of Bigg Boss OTT and took home the Bigg Boss OTT 2 trophy and a cash prize of Rs 25 lakh.