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Things are already sub-optimal when you find yourself forced to hold a special investor-confidence-building day. And, indeed, things were sub-optimal at British e-commerce operation THG, whose shares had fallen by one-third over the past month.

The thing is, investor confidence days are supposed to, well, inspire confidence in investors. They are not supposed to turn sub-optimal situations into existential crises by producing a further one-third drop in share price.

British e-commerce company THG has said it knows of “no notifiable reason” for a 35% plunge in its share price on Tuesday…. “It seems that attendees didn’t get the level of information they wanted, and messages were quickly fed back to HQ to dump the stock,” [AJ Bell investment director Russ] Mould said.

“Having joined the stock market with a lot of fanfare, the market now seems to be taking the view that THG was grossly overvalued and that breaking the business up creates more questions than answers.”

SoftBank chief Masa Son has certainly heard this story before.

SoftBank’s buy option values the Ingenuity division at £4.6 billion at current exchange rates, but at Wednesday morning’s share price, the entire group was valued at around £3.15 billion, Mould highlighted.

Shares of a British e-commerce firm backed by SoftBank are in freefall [CNBC]


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