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Small-cap stock Cupid crashed 20% to hit the lower price band on Friday, January 2, snapping its 13-day winning streak amid higher-than-usual volumes, during which it rallied 33%.

Over 39 lakh shares of Cupid had changed hands on the BSE as of 2.45 pm, much higher than the two-week average of 5.03 lakh shares. On NSE, 221.59 shares were traded. There were only sell orders for 58 lakh shares on both exchanges combined.

Cupid shares had opened at ₹526 as against the last closing price of ₹524.90. It soon tumbled to the day's low of ₹419.95 — its 20% lower price band.

There was no apparent fundamental trigger behind the crash in Cupid shares. The last exchange filing shared by the company is on December 29, wherein it announced setting up a new FMCG manufacturing facility in the Kingdom of Saudi Arabia (KSA) — marking an important milestone in its international expansion journey as it is the first manufacturing plant outside India by the company.

(This is a developing story. Check back for updates.)

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