The Purplebricks share price has taken a hammering over the past week as investor jitters sent it plummeting by 26% prompted by bad news from Brexit, eMoov and its latest results.
Its share price began at £1.70p on Monday morning, dropping dramatically to £1.50p almost immediately and then yo-yoing down to £1.26p at one point before settling at £1.30p at close of play yesterday.
The dramatic price movements are in part down to the ongoing uncertainty around Brexit and news that its largest competitor eMoov had entered into administration, but also worse-than-expected figures from its latest six-month results.
As we reported yesterday, these revealed how its US and Australian operations have continued to lose money, dragging its group results in to the red despite increased revenue and profits in the UK.
Investors ignored a beefed-up management team at Purplebricks. The company revealed that online industry heavyweight Vic Darvey (left) will be joining as its group Chief Operating Officer in the New Year from MoneySupermarket.com.
Darvey has 20 years’ experience at comparison website including MoneySupermarket.com but also Lastminute.com and, during the late noughties, co-founded his own online travel company.
“Vic brings a proven record of technology delivery and leadership of cutting edge data-led, customer-focused, commercial innovation,” the company says.
Purplebricks revealed several other initiatives within its results including how it would be starting a new advertising campaign in the New Year including pitch sponsorship of all BBC televised rugby matches in Scotland. It is also to re-brand the English-speaking Canadian property website ComFree to Purplebricks,, which it bought in July.