Shares in Purplebricks nosedived on Friday after analysts downgraded the online estate agent and said it would have to raise fresh cash. Shares in Purplebricks nosedived on Friday after analysts downgraded the online estate agent and said it would have to raise fresh cash. It cited a slowdown in Purplebricks’ core UK market, as well as tough conditions in Australia and the US. It also lowered its target price for shares to 80p from 470p. Purplebricks said there are a number of headwinds in the Australian housing market, while in the US the company flagged a “slower-than-expected response” to its marketing initiative.

Source: Irish Independent April 05, 2019 09:45 UTC