What happens when the head of a billion-dollar company gets into a public spat with a comedian? In the case of Bhavish Aggarwal, CEO of Ola Electric, it leads to a viral meme fest, criticism, and even a sharp dip in the company’s stock prices.
However, in the past 48 hours, Bhavish Aggarwal, CEO of Ola Electric, found himself embroiled in an intense social media spat with comedian Kunal Kamra. What started as a question about Ola scooters turned into a fiery exchange that ignited a meme storm on social media platform X, formerly known as Twitter, and even took a toll on Ola Electric’s stock performance.
Memes and Backlash Flood Social Media
Over the past 48 hours, social media platform X (formerly Twitter) has been buzzing with the hashtag #OlaElectric as netizens trolled both the company and its CEO following a heated exchange with comedian Kunal Kamra.
One user commented, “Bhavish, you're not Elon Musk. You're just a bad manager. Your EVs are faulty, your customer service is terrible, and your comedy act is even worse. Where are the vision talks? Pitching the recent customer service results might be a better counter.”
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Another user humorously added, “Soon Bhavish will make a video with the Indian flag in the background.”
One post suggested, “OlaElectric has now activated its paid social media trolls and influencers to start damage control!”
Sunday kalesh #Bhavesh#Kamra#OlaElectricpic.twitter.com/yCgSDSSiDG
— Finance Memes (@Qid_Memez) October 6, 2024
Best way to ride your OLA Ev scooter. #OlaElectricpic.twitter.com/3Fj5BCcK0Q
— Akshat Tak (@akshattak) October 7, 2024
Dude, get off twitter#OlaElectricpic.twitter.com/mCwCXljHtB
— Sonam Srivastava (@Sonaam1234) October 7, 2024
This could be the reason for that "Arrogance" #OlaElectricpic.twitter.com/pLPYMYcOfJ
— Pavan / ಪವನ್ (@VPavanKumar28) October 6, 2024
Stock Market Impact
The online feud did not just stay confined to social media. The stock market soon reflected the damage caused by the public quarrel. On Monday, October 7, shares of Ola Electric took a steep dive, plummeting 8.38 per cent to close at Rs 90.75 on the NSE and 8.31 per cent to Rs 90.82 on the BSE.
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Ola Electric Mobility had listed its IPO in August 2024 at an issue price of Rs 76 per share. Following its debut, the stock soared, reaching a post-listing high of Rs 157.4. However, the company’s shares have since plunged by over 43 per cent from those heights.