Shares in both Countrywide and Foxtons fell heavily yesterday.
Countrywide shares sank to 90p, rising only slightly to finish at 91.8p – 5.85% down over the day, giving it a market capitalisation of £232m. Countrywide shares have been lower, at 70.5p in April, but four years ago they were 686p.
Foxtons shares hit a new low and fell by almost 4% to finish the day at 58.7, giving it a market capitalisation of £168m. At one point yesterday, they had sunk to 57.8p. On its first day of trading on the stock market, in September 2013, the shares hit nearly 300p and went to 386p in March 2014.
By contrast, Purplebricks’ shares yesterday soared almost 4%, ending at 356p and giving a market capitalisation of over £1bn. However, Purplebricks shares are still trading below a high of over £5 last August.
Separately, property consultant Cushman & Wakefield has announced plans to float as a public company.
Platt’s legacy – destroying an untouchable business by touching it too much.
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Purplebricks Down 4% today. Also this piece form https://uk.advfn.com/stock-market/london/purplebricks-PURP/share-chat
financial review in oz . by
Larry Schlesinger
All not going well in oz…. tbf i expect head office in uk woul dbe a hell hole to work in when a seller doesnt sell their property. They are just lucky £700 isn’t as hard to swallow then $5000 upfront like in oz.
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