Purplebricks share price collapsed by another 9.6 per cent on Friday.
This means the agency has lost half of its share price in the last month alone, down 50.79 per cent in just over four weeks.
Since the start of 2021 it’s lost 74.22 per cent of its share value.
Some will put Friday’s share collapse down to the emergence of the Omicron Covid variant - FTSE companies fell an average of 3.66 per cent that day, the largest single day fall for 18 months.
However, Purplebricks’ drop was well over twice that much and was worse than other agency industry share falls - for example, Foxtons dropped 5.75 per cent and OnTheMarket fell 4.52 per cent while some firms, notably LSL and Belvoir, actually bucked the trend and showed small rises.
Purplebricks’ share price dropped 37 per cent in just one day earlier this month following a profits warning over its “challenging” past six months - even though five of those months were during the stamp duty holiday, when most agencies enjoyed bumper business.
Since then some its customers have been caught up in the data and IT crash involving conveyancers at the Simplify Group, while last week Purplebricks admitted that its own systems problems meant it failed to comply with the law requiring rental deposits to be placed in a government-backed scheme - although it refused to say how many and how long deposits were held by the agency before they were eventually placed in an approved scheme.
On Friday share prices for HSBC, Lloyds Bank, NatWest and Barclays all fell about 7.0 per cent - the biggest FTSE 100 riser was food delivery firm Ocado, up 4.5 per cent on anticipation of more business if tighter restrictions are reintroduced.