Since the beginning of the year UK online real estate agency Purplebricks has seen its share price soar, but the company has now issued a statement saying it’s none the wiser as to the contributing factor.
Estate Agent Today reports that the company’s shares started trading at 100.00p just before Christmas 2015 and like many traditional agencies its price was buffeted by the turbulence of last year’s stamp duty and Brexit announcements.
Last Thursday Purplebricks’ official Twitter account sent out this message: “January has been a record-breaking month for valuations & instructions, so if there’s a right time to start your property search, it’s now!”
It was reported that shortly after the tweet was sent, share prices for Purplebricks broke through the 200.00p barrier, although they eased before the close.
The board of PurpleBricks has now issued a statement saying it has no idea what lies behind the soaring share price in recent weeks.
“Purplebricks notes the recent strong increase in the share price and confirms it is not aware of any reason for the movement, Whilst the company has had a good start to the calendar year, the board’s expectations remain unchanged”