Foxton's Share Price dropping rapidly

mayonnaise

hpifever wrote: »

It's at 180 now!

It's at 270 now!

hpifever

Price dropping again!

marathonic

hpifever wrote: »

Price dropping again!

Anyone that put an offer on a London home yesterday better ring their agent up and drop their offer by 4.07%..... :rotfl::rotfl:

hpifever

Better drop the offer on foxtons "realistically" priced £1m studio flat in Lewisham London by 4.07%!

wotsthat

hpifever wrote: »

Price dropping again!

Surely the crazy gang don't still think there's a correlation between Foxtons share price and house prices do they?

hpifever

Price dropped again! It absolutely shot up after the election but now....

mayonnaise

hpifever wrote: »

Price dropped again! It absolutely shot up after the election but now....

...they're still higher than when you started off this turd of a thread under your officeuk login. :rotfl:

Generali

officeuk wrote: »

Foxtons share price is now 215.50. My goodness!!!!

Closed at a mid price of 247.6p on Friday. My goodness!!!!

Having said that, it is trading on a price:earnings ratio of 2,100 :eek:(for a stock where the company is unlikely to grow quickly I'd expect more like 15-18).

I did say they were a buy at 180p. I don't think they're a bad company to own shares in. Governance looks good, nice transparent reporting on the face of it. Pretty environmentally friendly so unlikely to get hit after the Paris round of emissions talks. Margins are under pressure but if their structure is as they claim it would be not so hard to turn themselves into a low(er) cost, low margin company.

Has anyone come up with a decent reason to short the stock beyond 'house prices are too high' or 'Don't talk to me about bloody Foxtons mate'.?

padington

Generali wrote: »

Closed at a mid price of 247.6p on Friday. My goodness!!!!

Having said that, it is trading on a price:earnings ratio of 2,100 :eek:(for a stock where the company is unlikely to grow quickly I'd expect more like 15-18).

I did say they were a buy at 180p. I don't think they're a bad company to own shares in. Governance looks good, nice transparent reporting on the face of it. Pretty environmentally friendly so unlikely to get hit after the Paris round of emissions talks. Margins are under pressure but if their structure is as they claim it would be not so hard to turn themselves into a low(er) cost, low margin company.

Has anyone come up with a decent reason to short the stock beyond 'house prices are too high' or 'Don't talk to me about bloody Foxtons mate'.?

The rise of alternative estate agents Charging tiny fee's using zoopla and right move with no estate agents bar phone support teams gives food for thought. Foxtons works by winning the highest fee. If an alternative solution can provide customers with a great services at a much lower fee, I would have thought foxtons would be the first to get hurt.

Generali

padington wrote: »

The rise of alternative estate agents Charging tiny fee's using zoopla and right move with no estate agents bar phone support teams gives food for thought. Foxtons works by winning the highest fee. If an alternative solution can provide customers with a great services at a much lower fee, I would have thought foxtons would be the first to get hurt.

If you read the annual report they claim to be scalable with very low incremental costs per branch. If that is true then they should simply be able to transition to a low cost, bulk EA.

IF thst is true.