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How did Purplebricks get it so wrong?

The online estate agent, whose shares fell to a fresh all-time low this week, is long past crunch time
How did Purplebricks get it so wrong?

Purplebricks (PURP) has been a disaster of a public business. This week, the online estate agent slumped to an all-time low of 23.5p a share, a decline of 95 per cent since 2018 and more than three-quarters in 2021 alone.

Six years after listing, some investors may still wonder why the stock has been such a dud.

When it floated, the group looked like a canny business idea in a sector primed for disruption. Unlike traditional estate agents, who collect a commission once a sale is completed, Purplebricks offered a fixed fee for the start-to-finish job of valuing, listing and selling a house.

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