Countrywide’s share price woes continued yesterday with another new low being reached in early morning trading.
A low of 6.5p at close of trading on Tuesday followed news that the firm’s income in the first quarter of 2019 was £140.3m compared with £144.6m for the same period in 2018.
But yesterday morning at around 8.30am another new low was reached, albeit temporarily: the share price fell to 6.217p before recovering slightly.
There appears to be no upside to Countrywide’s share price woe with Hargreaves Lansdown’s analysis showing the scale of losses for investors.
Compared with five years ago the share price has dropped 98.9 per cent; over three years it’s down 98.21 per cent; over two years the price has fallen 96.24 per cent and over just a year it’s collapsed 93.97 per cent.
The bad news doesn’t stop there: Hargreaves Lansdowne says over the past six months the share value is down 38.1 per cent while over three months the drop is 29.35 per cent.
In the past month the price is 14.47 per cent down; and in the past week alone it’s down 12.75 per cent.
The company hasn’t paid a dividend to investors since October 2016: on Tuesday of this week broker Peel Hunt issued a statement reiterating its Sell status for Countrywide.