The share price of British shoe manufacturer Dr. Las Martens on the London Stock Exchange fell to £0.53, which is a record low, according to data from the trading platform.
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During the trading session on Friday, September 20, Dr. Martens (ticker DOCS) at the peak of the fall fell to £0.52 (-18%). According to current data at the time of this publication, the company’s market capitalization is £616.4 million.
The fall in Dr. Martens’ share price was preceded by the news of a consortium of investors selling 70 million shares at a discount, which is about 14% of the total number of shares, Marketwatch notes. The shares were sold at £0.57 each, almost 10% below the last closing price of £0.64.
Since the beginning of the year, Dr. Martens has fallen by 63.9% amid lower sales in the US, and by 87.6% since the stock market began trading.
Dr. Martens completed an IPO (initial public offering) on the London Stock Exchange in 2021, valuing the company’s business at £3.7 billion.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
