Rightmove has had good reports but their share spiked down today. (Google the term “tree shaker” as this may have been one).
Rightmove have been active recently buying back lots of their own shares. This can boost the share price. Rightmove seem to be buying their own shares with cash and not increasing debt.
An online property site, Rightmove have indicated, in their half year report, a small increase in properties listed with them. Also, they reported a good increase in page views on their website.
In last years report, Rightmove showed no debt, good growth in earnings and high profit. They have the potential to grow their share price ten times over, however, todays possible “shaker” reminds you to keep your level of investment balanced. Overall, if you believe that online property sales will continue, then Rightmove could be a good buy. Now could be an opportunity to buy some more.
Slow Trader 