Countrywide’s share price fell to its lowest-ever level yesterday - evidence that it’s not just online estate agencies that are having a torrid time on the stock market and elsewhere.
Countrywide opened down yesterday to 8.75p before sinking mid-morning to a new low of 8.50p. It eventually recovered and closed up slightly, at 9.26p.
Its performance in recent days means it has lost over 98 per cent of its value over the past five years, and around 90 per cent of its value since the announcement introducing the Back To Basics initiative.
However, sentiment surrounding Countrywide appears to have improved in recent months.
The Hargreaves Lansdowne investment service runs an online barometer based on a basket of the most recent City broker announcements about companies; three months ago the consensus for Countrywide was ‘sell’ whereas now it has at least moved to ‘neutral’.
It is thought that Countrywide may issue a brief trading statement before the end of this year with a more extensive announcement on 2018 trading before the end of January.