Moonpig (MOON) was already a high-growth company before it was turbocharged in its last fiscal year as lockdowns and changing consumer trends benefited ecommerce retailers. But when the likelihood of lower future revenues was floated by the group this summer, investors responded as though they had ripped open a Moonpig card to be greeted with some ghastly news.
- Market leader
- Leading brand
- Strong underlying growth
- Pandemic bounce reversing
- Debt has risen
The shares of the online greeting card and gift retailer have been on a bumpy ride since February’s listing on the premium segment of London’s main market. When Moonpig’s maiden post-initial public offering (IPO) results were released in July, management noted that the top line would fall in the next fiscal year as restrictions were eased. The shares fell from a post-float high of 488p in June to a low point of 285p in October as IPO investors glumly mused over whether they had overvalued the business. But the company is now trading back above its float price of 350p once again.