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Quindell Share Price Continues to Crash

Quindell Share Price Continues to Crash

Quindell (QPP) share prices continued their decent on Tuesday. After opening the day at 96.78p the price dropped throughout the day and in the end closed down at 75.50p, down 20.53% for the day. The shares are now down a massive 42.8% for the week and 47.2% for the month.

The sharp drop in price has come even though there has been some positive news from the company in recent days. On Monday the company’s chairman Robert Terry bought a further 250,000 shares in the company and last month it was revealed that Quindell expects to meet the upper end of its full-year guidance range as its third quarter revenue more than doubled.

Brokers remain positive about the company’s outlook with Daniel Steward, Canaccord Genuity and Cenkos all recommending ‘Buy’ at the moment with target prices ranging between 362p and 700p.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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