Online agent Purplebricks saw its share prices fall yesterday by 3% – but the shares started yesterday at a high and nevertheless ended at above the launch price of 100p.
The Purplebricks shares ended at 103.50p after a high of 106.50p.
The shares had previously fallen well below its launch price, but appear to have been boosted by a positive article in Investors Chronicle and a substantial investment by Old Mutual plc.
In contrast, Rightmove’s shares have plummeted in the past week and went down yesterday by 8%.
They ended at £33.76p, down from £36.93 yesterday and £40-plus only a week ago.
Analysts have yet to comment as to why Purplebricks’ share price should have risen while Rightmove’s value has fallen so sharply.
Zoopla shares ended up 2.18% yesterday.
Wait for the email…Our rightmove membership rates will be going up.
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The power of TV. Do you believe anything written in a newspaper? But if its on the telly, it must be true. A little homework if often missing by investors who rely on traders.
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