Seven Days: 3 February 2017

Seven Days: 3 February 2017

Bouncing bricks

Estate agent's tweet

It might only be 140 characters long, but a tweet by online estate agent Purplebricks could have been behind a major spike in its shares. The tweet noted that January had been a record-breaking month for valuations and instructions, so "if there's a right time to start your property search, it's now". The stock spiked as much as 12 per cent on the day of the tweet - 26 January - but a statement from the company the following day suggested it wasn't aware of the specific reason for the increase and so the shares dipped 7 per cent. By 30 January, it acknowledged the potential that the tweet had affected the shares, but noted that the level of activity was in line with expectations.

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