- Angela Gonzalez-Rodriguez |
New York – Online fashion retailer Sosandar PLC said that Octopus Investments Nominees Ltd bought 11.12 percent stake in the company on Wednesday, July, 31.
After the investment, Octopus Investments Nominees owns 18.1 million shares in the company. The news boosted the stock, with Sosandar shares closing 7 percent higher at 15.25 pence each on the last of July.
Octopus investment bolsters Sosandar’s price
It’s worth recalling that the price of shares of Sosandar Plc (SOS.L) has fallen 23.75 percent over the last month. Zooming out to the last 6 months, shares have seen a negative change of 42.43 percent, having lost 52.64 percent over the past year.
The online retailer for womenswear in the United Kingdom had a market cap of 19 million pounds when it posted in late March a loss of 3.5 million pounds for its most recent fiscal year. According to market insiders. the most pressing concern for investors is the company’s path to profitability and whether the retailer will reach the break-even mark any time soon.
Well, according to the industry analysts covering SOS, breakeven is near. They anticipate the company to incur a final loss in 2020, before generating positive profits of 1.5 million pounds in 2021. Sosandar is therefore projected to breakeven over the next two years.
Market analysts’ estimates point at a projected company’s growth rate of 90 percent year-on-year, on average.
Image: Sosandar, official website