This is strictly my personal opinion, but Zomato, or any other food delivery-based gig economy companies for that matter, are fundamentally not a good bet to invest in due to (1) slowing growth and (2) persistent losses. Without going into technical analysis, which is readily available online if you want, all food delivery apps across the world are functioning on high revenue but increasing losses. This holds true even for giants like DoorDash, GrubHub, Postmates, you name it. All of these food delivery apps have been operating on heavy losses, with the promise that they will turn the loss into profit in the future, but this promise has been elusive for years. Just think about it, if food delivery giants were not even able to convert their revenue into profits during the peak of the pandemic, a period which saw the highest uptick in the utilisation of said apps, what promise is there that they'll be able to turn around their losses in the post-pandemic period, when most countries have opened up and more and more people are resuming their daily lives?
