Property group’s share price halved in seven months

Purplebricks sign
The market value of property group Purplebricks has halved in seven months as investors' nervousness grows over the ability of the company to justify its valuation. The company was close to a £1.5bn valuation in January with its shares at a 490p high, but last night its share price closed at 238p. Purplebricks' share price has fallen more than 10% in two days after the Solihull-based business delayed its trading update until after next month's AGM. It said: "Given the proximity of the AGM to the company's 31 October half... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...