Looking at the share prices of the 10 companies listed in our fictional Fund of property-related shares a few days ago, I almost fell off of my chair when I saw that the Rightmove share price was down a whopping 90% compared to Q2.

It took several minutes to discover that the company had in fact, on the 31st of August, reduced the value of the ‘subdivision ordinary shares’ to 0.1p, from 1p. Thereby reducing the share price 10-fold. Phew!

Not that Q3 was plain sailing for Rightmove, or for the rest of our Fund for that matter. In early-September it was reported that Rightmove was on course to be booted out of the FTSE 100, after a stalling housing market and increased online competition. However, at the time or writing that had not happened, but the company was one of the worst performing shares in our index - all prices from 1/7/18 to the time of writing on 19/9/18 - losing 10.4% during that period.

Helal Miah, investment research analyst at The Share Centre, said Rightmove has suffered a “tumultuous year”, with intense competitive pressures leaving it “in a vulnerable position”. He added: “A weak housing market in London and the Southeast and what the group describes as ‘muted sentiment towards the UK property market’ continues to weigh.”

Worries over its prospects failed to ease despite interim results in July revealing a 10% rise in revenues to £131.1m at the property portal and operating profits up 12% at £98.2m.