Carry on Falling – Lastminute shares
Private investors take stock
Lastminute.com continued to plumb the depths of ever darker shades of red for its army of small investors today. By lunchtime, lastminute.com shares had hit 285p, down 35p on the morning. It is now some 95p lower than its offer price. Yesterday, small investors were looking at losses of some £40. Today, it's even more and anyone holding their measly 35 shares will have to consider whether to hang on tight or cut their losses. According to London local paper Metro, £94 million was wiped off the value of the company yesterday. The paper said co-founder Martha Lane-Fox has lost £1795 a minute since shares hit the hairy heights of more than 500p last week. Fox's fellow founder Brent Hoberman's losses worked out at about £2599 a minute. Still, Lane-Fox's and Hoberman's personal loss is nothing compared to US software billionaire Michael Saylor, who saw $6 billion wiped off the value of his personal fortune yesterday when shares in his company, MicroStrategy Inc, nose-dived. It's been described as the biggest worst losses in a single day. Ever. Hey-ho, such is life. ® Tune in and turn on to Cash Register, for more tales of the Bubble Economy
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