Countrywide’s daily battering on the stock market continued yesterday with a fall of over 16% at one time.
As we have noted before, the share price is already so low that a huge percentage fall actually knocks very little off the price. Even when the price does lift, the London Stock Exchange may regard it as a fall.
Yesterday the shares started at about 3.7p and were down to 3.1o by mid morning.
They closed the day at a somewhat perkier 3.6p, or just 0.1p down, recorded by the London Stock Exchange as down 2.7%.
Meanwhile Purplebricks shares ended the day at 105p, or 1% down, after co-founders the Bruce brothers sold their entire share holdings to German publisher Axel Springer.
We were told by Purplebricks that co-founder Kenny Bruce remains in the business, as sales director. His brother Michael left his role as global chief executive last month after a boardroom coup.
Purplebricks has confirmed that it will announce its full-year results, for the year to the end of April, on July 3.