Quindell Share Price Falls Even Further
Quindell (QPP) share prices continued their disastrous week on Thursday. Having opened at 86.25p the shares quickly fell to 78.25p. They did recover briefly to 91p but spent the afternoon in a steady decent and in the end closed the day down 13.51% at 72p.
The shares are now down 30.63% for the week and 37.52% for the month.
The share price dived as it emerged that asset management company Fidelity has cut its holding in Quindell to 21.4 million shares down from 41.2 million shares. The news came after it was disclosed that a number of Quindell’s directors had sold down part of their stakes in the company in order to raise money to buy more stock.
Nonetheless, investors appear to remain reasonably equally divided with 54.16% of Quindell shares traded on Thursday sold and 45.84% bought.