Purplebricks shares hit their highest-ever price yesterday, touching 180p.
Although they suffered a sharp fall shortly before the close and ended at 166p, it still meant that the shares rose 4.75p on the day, giving it a market capitalisation just shy of £400m.
Purplebricks floated on the stock market in mid-December at 100p.
Canny investors will have waited until January 20, when the shares sank to a low of 72.50p.
Meanwhile, Foxtons share price finished yesterday down 5p at 150.15p, up from a low of 143p on Monday but a long way from its 52-week high last May of 289.75p.
It market capitalisation is now just £413m, putting Purplebricks within spitting distance.
Yesterday, Purplebricks had 5,021 reviews on TrustPilot with almost 87% rating it a five-star service.
Comments (12)
I think everyone needs to stop hating on them and start applauding them. ANY company that wants national coverage, has to spend much more money to grow and to get that coverage. They’ve only been active for just over 2 years. They won’t be making any sort of profit for at all 5 years. You should read the story of moonpig. No profit for many years and then sold it at it height for huge sums of money.
All of that said, pointless articles about share prices going up or down and thousands of fake reviews irritates me! Can we try and be a little more inventive please?
5 years?
http://www.propertyindustryeye.com/we-will-make-huge-profits-purplebricks-promises-investors/
‘Purplebricks.com, the new online agency founded by the brothers who sold Burchell Edwards to Connells, told investors it will make annual profits of £25m in just over two years’ time.’
Interesting. The article promising £25m in profits in 2 years was published 2 years ago. They haven’t made any profit yet.
That values them at £250 million tops,,stock market is a joke.
I think everyone needs to stop hating on them and start applauding them.
Applauding them for WHAT, exactly?
Hate to say it but driving round my town yesterday I saw a fair few of their boards; the majority of which were showing sold. If they gain more traction the scope of their potential is what people are buying into. I still think they will have fundamental issues with their profitability/costs against charges.
The one thing it made me realise is just how important it is for agents to do everything they can to take away the power of rm/z who are effectively using us to allow these listing outfits to eat into our markets and margins. The alternative is pretty unthinkable long term.
Must get hold of someone to show me how to ‘float’! My firm has to be worth a fortune as I’ve only technically made a loss twice in the last 26 years!
Emperors clothes or what ? Is this the new world that businesses don’t need to make profits ? May as well through my budgets in the bin and spend, spend, spend to make sure I don’t make any profit!
As long as you wave your arms high enough whilst screaming ‘look at me’ you wl be fine.
Same story about reviews and share prices…
Profit figures yet?
Interesting that after your recent story about the disparity between negative reivew on Facebook & positive review on Trustpilot, PB have manged to pull off some crafty design tweaks.
On their Facebook page, the Facebook review button has been replaced with a button to the Trustpilot reviews.
The Facebook reviews are now hard to find (Tip: Click the “more” tab).
30% are 1 star reviews
Hmmmmm.
Steve jobs first rule of business: Dont make crap!
Purplebricks is a prime example of trading standards beign asleep at the wheel. How can people give a company 5 * service before they have actually used the service??? Absolute joke.
Facebook is the after theyve listed it review site. Trustpilot is the gullable i save £2k review site for newly listed customers.