MakeMyTrip stock hits 52-week low after report alleges anti-competitive practices

Shares of MakeMyTrip hit a new 52-week low of $32.67 intraday on Monday. This came after a report by Morpheus Research alleged that the Indian online travel agency prohibits hotels from offering lower prices on other platforms, despite a 2022 order by the Competition Commission of India (CCI) and a $26.1 million fine. However, the shares later rebounded to $36.37.