In the words of Bojo, I think a national conversation needs to be had.
The PURP share price has plummeted because of a paperwork error. It has a flawless balance sheet, and after the drop im wondering if it is now undervalued. Considering in early November the SP was double what it stands at today.
I’m a landlord, and am currently at a loss as to why millions has been wiped off over the error that was made. It seems so minor.
They registered the deposits of tenants in the legal schemes, which they were required to do, they just didnt tell the tenants which scheme it was in. Had the tenants ever wanted to know, which I cant imagine why they would need to during there tenancy which specific scheme their money was being held, then I dont see why they couldn’t have simply asked if they needed to.
In the space of a month, the Share price has more than halved. Has the market over reacted? This little daisy may cost PURP up to 9million, but am not sure that dents their balance sheet too much.
I see it as a potential buying opportunity. Holding fire for now until more news comes forward. But im wondering whether this is an overreaction.