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Sheer Heart Attack

Moneysupermarket Down 75%+ Since Last November

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Moneysupermarket's shares have plunged on the back of firstplus's sudden closure.

Yet another example of how the real economy is not immune from the financial markets. Everything's feeding into everything else now at such a frantic pace that there'll be carnage on the high street, in the offices, in the factories and on the internet.

According the Yorkshire Post, the withdrawal of firstplus means "revenues would be down by £7 million following the withdrawal of Firstplus from the home loans sector, while underlying earnings would fall by up to £5 million."

Ouch. £5m profit hit from one supplier. And it won't be the last.

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Bad day for them today:


Last Trade: 60.50 p

Trade Time: 2:54PM

Change: 27.25 (31.05%)

Prev Close: 87.75

Open: 86.50

Bid: 60.00

Ask: 60.25

1y Target Est: 160.67p

Nice seeing the shys get burned. Few were as sly as the Foxton's spiv who bailed just before the bad news for property was realised.

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was it UBS who pumped the issue for all its worth? Never worth the original share price, should have been 50-70 pence at issue, but at that level all the sharks wouldn't have been interested. Lots of gullible private folk bought into that company on the back of all the pr and roadshows Simon Nixon and his crew did. Whole biz. plan revolves around commissions and selling leads (the leads were excellent at the top of the market btw, perhaps the best available) Crashed by 30% today to be worth 60p, MKT cap now 300mil down from a peak of 1.2bl. Bet all the high flyers have got out including Nixon. Madness that it was ever valued at more than 200mil TBH <_<

Edited by Converted Lurker

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  • 399 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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