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Rightmove.....will You Be Buying Shares?

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The online property experts RightMove intend to float on the London Stock Exchange shortly.Should I invest some of my STR funds in this venture?

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The online property experts RightMove intend to float on the London Stock Exchange shortly.Should I invest some of my STR funds in this venture?

Now there's a very interesting question!

I think they're well over-priced though... certainly at the level that's being rumoured at the moment. A market cap of £300m? A bit too much mutual back-slapping going on with the valuers there I think. They're being very optimistic in my view and might be timing the float pretty poorly...

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The online property experts RightMove intend to float on the London Stock Exchange shortly.Should I invest some of my STR funds in this venture?

A good outfit to short in 2006.

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If you approach it objectively then there could be some money to be made in it. If you think Estate agents and Internet businesses are unpopular/unfavoured then just check Google and Countrywide :ph34r: I don't know if I'd get in long term but they have potential for a honeymoon bounce at flotation. they you could/should look at them again in the depth's of a HPC Nuclear winter ;)

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If you approach it objectively then there could be some money to be made in it. If you think Estate agents and Internet businesses are unpopular/unfavoured then just check Google and Countrywide :ph34r: I don't know if I'd get in long term but they have potential for a honeymoon bounce at flotation. they you could/should look at them again in the depth's of a HPC Nuclear winter ;)

there could well be some truth in this, but I think it would be a short honeymoon (rather than a honeymoon short) - if you are a value investor or a buy'n'hold type, best steer clear for the time being. IMO.

I think they need to get their skates on if they're to maximise the interest though.

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there is a discussion board on the motley fool website re. countrywide and it makes quite interesting reading.

there has been some unusual events surrounding this company - something that springs to mind is that they changed their auditors and announced it to the stock market on the last trading day before christmas 2005 with a trading year ended 31.12.05. they went from a big 4 to a non-big 4 auditor AFAIK.

the share price is a bit of a "funny" - despite all the talk of it being the worst housing market for 30 years etc etc it has continued to motor ever upwards!

the thinking is that it such an obvious share to 'short' that hedge funds have got wind of this. :(

anyway - isn't the MD called Harry Hill; so what he is doing running a plc when he could be wearing his big collars on the comedy circuit? :P

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Miles had several estate agents around to value the business. After careful consideration he eventually decided to go with the highest valuation and 'test the market' with the option to lower the price later if the floatation turns sticky.

He went on to add that with shares in short supply and record low interest rates, investors would be foolish not to remortgage their homes to participate in this excellent investment opportunity.

I suppose it's the supreme irony of the whole sordid business :huh:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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