Australian EconomyAustralian PropertyFeatured Article

What exactly is crashing McGrath ringing the bell on?

David Llewellyn-Smith
Friday, 10 February 2017
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I know I predicted it but not even I thought McGrath would fall apart quite like this, down another -7% yesterday and -64% from the float:

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Via the AFR:

While there was no obvious catalyst to the latest share price plunge, the company’s stock has been on a downward spiral since it issued an earnings warning in late January after revealing it had recently lost 36 estate agents and was also battling ongoing low residential listings.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.