A PropTech analyst insists that the tumbling share price of Purplebricks on the London Stock Exchange does not indicate that the agency is anything other than a success.
Purplebricks’ share price at the start of the Easter long weekend was 125.6p – up from its 100.0p launch in December 2015 but barely a quarter of its 498.5p high of July 2017; in recent months it has been falling gradually, with few exceptions.
“The stock price is significantly down from the highs of last year, the US and UK chief executive officers are out, and revenue guidance has been repeatedly downgraded” he says.
However, DelPrete describes stock market trading as “irrational” and says that while Purplebricks’ stock has faced a turbulent three years “its underlying revenue has consistently grown by impressive margins.”
Purplebricks (LON:PURP) is the leading next generation estate agency in the UK with operations in Australia, the US and Canada that combines highly experienced and professional Local Property Experts (Local Real Estate Experts in the US) and an innovative use of technology to help make the process of selling, buying or letting so much more convenient, transparent and cost effective. Purplebricks is transforming the way people perceive estate agents and estate agency.