New Delhi, Sept. 23 -- Meesho stock surged nearly 10% to hit Rs.240 on Tuesday, its highest closing price since debuting on 10 December 2025 and more than double the issue price of Rs.111. But how much higher can its zero-commission marketplace model drive the stock, which cooled off a bit on Wednesday?

With 274 million annual transacting users in the June quarter (Q1FY27), Meesho's popularity and growth rate have never been in question. Net merchandise value (NMV) has expanded at a compound annual growth rate (CAGR) of 29% over FY23-FY26, and NMV growth was a robust 34% year-on-year in Q1FY27.

Doubts had surfaced over the sustainability of the zero-commission model when the contribution margin (CM)-revenue minus direct costs as a perce...