Girard Sharp LLP is investigating claims on behalf of investors who purchased or otherwise acquired Mondee Holdings Inc. (NASDAQ:MOND) securities.
If you acquired Mondee Holding Inc. stock, please fill out our form or call (866) 981-4800 for a free consultation.
Mondee Holdings Stock (NASDAQ: MOND) Price Drops Over 76%
Mondee is an online travel agency (OTA) that went public in July 2022 through a reverse merger with ITHAX Acquisition Corp, a special purpose acquisition company. Mondee’s OTA platforms include Trippro, Tripplanet, Rockettrip, and Unpub.
On November 30, 2023, Night Market Research, an equity research firm, released a report, “Mondee: Bad Trip Choking on High Interest Debt, 100% Downside,” stating that the Company faces the “probability of near-term common equity wipeout with rising default risk on growing debt balance.” The report also states that Mondee “lacked lender permission for the $30m [share] buyback program announced on September 21.” Additionally, Mondee’s “platforms suffer from bugs and security issues,” according to the report.
Mondee’s stock closed at $3.12 on December 4, 2023, down over 76% from its September 9, 2022 closing price of $13.07.
Purchase Mondee Holdings (MOND) shares and suffer losses? A Girard Sharp attorney may be able to recover your losses, at no cost.
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