PhysicsWallah shares have dropped over 8% on November 20, extending losses for a second day after its IPO. The stock is now down more than 9% from its listing price but remains over 20% above the IPO price. Market capitalization has fallen by approximately Rs 8,400 crore from its peak. Experts advise caution, citing competition, regulatory risks, and valuation concerns, with some suggesting partial profit booking.