OnTheMarket's share price dips to all-time low

November 13, 2019
Share this Post: 

Property portal OnTheMarket's share price is down to a personal record-breaking low, and it happened just before its latest trading phase.

The price fell to 69.0p during its recent trading, down 3.5 percent from the day’s opening figure and the lowest recorded by the share.

It’s been a torrid recent period for the portal, which launched on the London Stock Exchange in February 2018 at 165.0p, or almost 2.4 times its current level. 

OnTheMarket's highest share price this year was back in February when its closing price one day was 138.5p, although even that well below its launch price; since May it has struggled to stay above 100.0p and since mid-September its direction of travel has been edging downwards. 

Its market capitalization is now only £46.34 million. 

OnTheMarket’s biggest share price jolt in recent times was in September when it closed around 10 per cent down after admitting in an unscheduled trading statement that “market conditions” meant the rate of conversion of agent members from free or discounted deals to full-price deals had been slower than expected.

As a result OTM admitted that it had introduced shorter cheaper contracts and that it would take until early 2022 - a year longer than originally anticipated - before it would enjoy what it called “significant profitability and cash generation.”

Over the summer it was revealed that Knight Frank would list some London properties for sale and rent on Zoopla; that meant that of the original agencies creating Agents Mutual six years ago, only Savills was holding out and listing on just two portals - an original objective of the OnTheMarket.

Read more here

November 13, 2019

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zillow No Sale
Zillow Reneges on Pledge and Cancels 400 Offers Contracts

According to local press reports from Phoenix Arizona, Zillow's iBuying division is cancelling agreements to buy around 400 homes and...

Read More
Portal Products We Like Edited
7 Great 'Under the Radar' Property Portal Products

At OnlineMarketplaces we get sent a lot of press releases around new portal products and, if we're being honest, sometimes...

Read More
Rentpay Skyline
Rent.com.au Signs Agreement to Have Leading Rentals Agency Promote its End-To-End RentPay Product

Australian rental portal and end-to-end specialist Rent.com.au has announced that it has signed an agreement with prominent rental management agency...

Read More
Immoscout24 House Value
ImmoScout24 Extends Data Cooperation Agreement with Sprengnetter for More Accurate AVM Modelling

Leading German real estate portal company Scout24 has extended its data-sharing agreement with appraisals and market data specialist Sprengnetter to...

Read More

Popular News