Purplebricks shares fall to under £1 launch price of four years ago

Purplebricks shares fall to under £1 launch price of four years ago

Purplebricks share price fell 10% at one point yesterday, while the London Stock Exchange implemented a series of price monitoring extensions.

While price monitoring extensions are routine, Purplebricks shares dipped to under 96p – below the launch price of £1 when it launched on the stock market in December 2015.

The shares then edged up to finish at 101p, a fall of some 5%.

Foxtons, due to announce its results tomorrow, also saw its shares fall by almost 5%, down to just under 83p. Its shares also inched up again, finishing at 84p.

Share prices in LSL and Countrywide were largely static yesterday, with The Times having commented that the prospective takeover was failing to impress investors.

Share prices generally have been hit by Coronavirus fears, which wiped £100bn off the FTSE on Monday.