Purplebricks’ share price shot up at one stage on Friday to reach a new all-time high of 378p, which meant its market capitalisation at one time topped £1bn.
But the share price then retreated and finished the day almost unchanged at 350p – valuing the firm at £947m.
Meanwhile, an analyst has suggested that Purplebricks’ shares could be undervalued, using several methods of scoring that investors typically use:
Countrywide shares fell slightly to 183p on Friday. A year ago, on May 31, they were priced at 375p. On Friday, its market capitalisation stood at some £435m.
While Countrywide is a long way short of Purplebricks in terms of market valuation, Purplebricks has even further to go should it aspire to catch up with Rightmove, with a valuation of £3.92bn.
On Friday Rightmove announced the appointment of easyJet’s chief financial officer Andrew Findlay as a non-executive director. Shares in Rightmove tiptoed up very slightly on Friday, to stand at 4,2239p.