A major investor in Purplebricks has upped its stake in the company.
As EYE yesterday noted, there were two big trades on Friday.
Purplebricks has now notified the stock exchange that on Friday Merian Global Investors (UK) increased its stake from 16.60% to 17.52%.
The two big trades on Friday were of 2,113,921 shares at 112p
Yesterday Purplebricks shares closed unchanged at 115p.
Merian Global Investors was formerly Old Mutual Global Investors.
It is the third largest investor in Purplebricks.
Comments (8)
Nobody seems to have noticed that it is exactly four years since Purplebricks shares first hit ‘The Market’. Here’s the original EYE article:
propertyindustryeye.com/purplebricks-becomes-first-online-estate-agent-to-list-on-stock-market/
Close of day#1 they were 93p. Four years later the history books show a rocky ride since – that at one point they had quintupled in value… and then slid back down under a quid – to what is today something like 20% more than first day price.
Some will have scored big wins.
Some will have made big losses.
#Toss of a coin, innit…
After a few days of ludicrously optimistic rises fuelled by the froth of the election result, the graphs are all turning red again. That Brexit cliff edge to disaster is getting closer by the day…
(I’m guessing this comment will get at least a dozen thumbs down in the next hour or so)
Share price down 4.7% this morning already!
A good buy, then…
Just checked and they are currently UP4.3% from 1.11 to 1.15 and will continue to reach for the Sky.
Oh…..and UP22% from July 3rd 🙂
Take my word for it they are a great buy……..
Bye bye PeeBee
In other words, they have dragged themselves back to where they ended up yesterday.
If someone is buying two shares at a time – the most current transaction listed – to keep the figures looking good, they can afford to pay a few pence over the top.
The future, Prophet’n’Loss – is the grim realisation that the PurpleEmperor’s winky (credit: Robert May) is on full display.
The future is bright and the future is Purple.
Buy, Buy Buy those shares
Bye Bye
As reported by PB September 2019 report:
A statement discloses a “contingent liability”.
It says that during an HMRC investigation into AML compliance check, a number of findings were noted in relation to non compliance with certain aspects of legislation”. “The company is unable to reliably estimate the financial impact of these findings and related ongoing discussions.” Also warns of a possible risk of litigation in the context of the number of changes it has recently undergone in terms of leadership, structure and geographic footprint. The future isn’t bright or Purple.
The future continues in the High Street with over 95% of consumers staying away from on-line models like PB who do not offer the same level of service and most gone bust.
Money to burn ……Purplebricks Shares have got loads of potential to fall further. Sell, Sell, Sell.