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I am sure you look at the Rightmove website…but I think you also know why the company’s shares are falling

There were “three distinct housing markets” according to the Rightmove (RMV) management team. Despite the fact that the UK economy has moved away from the comedy part of September/October PM, this week’s Nationwide update shows you the reality. The housing market started 2022 in a very hot mood…which via higher interest rates and much more was not apparent by the end of the year. What does all this mean for Rightmove shares, given millions of people still enjoy looking at the company’s website?

NEWSFLOW

Rightmove (#RMV) – 2022 adj. EPS +9%, DPS +9%, argues confidence in outlook

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You can all guess what the latest Rightmove survey is saying

It is the last big week of the year for macroeconomic watchers, with the Bank of England, the Federal Reserve and the European Central Bank all set to raise interest rates again. How…predictable. What will interest me is how worried they are about 2023. I see the chancellor has been banging on about a UK economy which is “likely to get worse before it gets better” and “I don't know whether inflation has peaked or not”. Maybe Santa will help out 11 Downing Street? Meanwhile, let’s have a quick focus on what Rightmove (RMV) said today.

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The world of Rightmove continues to get trickier

In early May I observed that “The Rightmove (RMV) CEO is wise to exit stage left after over 16 years”. The rise and rise of online property porn has been such a huge focus for the average adult over the last twenty of so years. We are - after all - genius new home selectors, ranked only just below the “Location, Location, Location” presentation Gods. So why are Rightmove shares down year-to-date?

NEWSFLOW

Rightmove (#RMV) – H1 adj. EPS +7%, DPS +10%, “confidence in delivering its expectations”

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The Rightmove CEO is wise to exit stage left after over 16 years

You all know how to think about Rightmove (RMV). As noted here in February, the average person seems to love checking out what the latest property price in their village or town might be. Even I have checked it out once or twice year-to-date (obviously purely for educational reasons). But I am not surprised that Rightmove’s shares are down 30% year-to-date and neither am I surprised that the stock is down 4% today…

NEWSFLOW

Rightmove (#RMV) – CEO Peter Brooks-Johnson to step down “in the coming year”

NEWSFLOW

Rightmove (#RMV) – 2021 adj. EPS up to 21.8p, DPS 7.8p, argues confidence in outlook

NEWSFLOW

Rightmove (#RMV) – H1 adj. EPS +8% vs H1 2019, DPS 3p, “confident”

NEWSFLOW

Rightmove (#RMV) – FY20 EPS -36%, DPS 4.5p, “current shortage of new listings”