A small free float lends itself to big share price swings, which is why only a small number of trades in the last few months have sent Time Out’s (OUT) shares down more than a third to 86p. We don’t think that fall is a good reflection of the potential at the media and events group, particularly in light of its latest ‘markets’ announcement.
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The group has joined forces with global real estate company Ivanhoé Cambridge to open a new Time Out Market in Montreal. This adds another geography and revenue-generating branch to the markets business, with no capital expenditure to the group itself. The Montreal market will accommodate food, bars and general retail offerings, similar to those in the group’s existing market in Lisbon.
