Zoopla starts a new week on the stock market after its shares hit an all-time high on Friday, peaking at 293.10p.
Although they closed down at 288.2p, the price compares with a 52-week low in April last year when the share price was 183.30p.
Zoopla last week announced the acquisition of the Property Software Group.
Also last week, on Friday, the Competition and Markets Authority published its open letter warning agents not to collude when deciding which other agent to drop in relation to OnTheMarket.
Zoopla made its debut on the stock market in June 2014 with shares valued at 220p.
Purplebricks shares also did well, rising during Friday to finish at 159p – close to their all-time high of 168p reached earlier this month and way up from their low of 72.50p in January.
It was not such a happy story for Foxtons whose shares in contrast hit a 52-week low on Friday.
The shares dropped to 144.50p, compared with a 52-week high of 289.75p last May.
Comments (3)
How on earth can Purplebricks be worth more than Foxtons. I could understand it if Purplebricks had something unique which held value, unless they continue to pump vast sums of money into their marketing they will start to loose the momentum they have gained!
hertsagent13, don’t confuse share price value with company value. A lot of variables at work. Market cap, amount of shares issued etc.
Does the Foxtons brand now have negative value, due to them sealing money from landlord with fake repair bills etc…..
If Purplebricks was easy to copy, then we would have lots of large on-line agents, as we don’t, it is clear that Purplebricks has created something that is hard to create. Only time will tell if they can make a good profit from it….