Unmade Index slightly down as Gumtree plunges
The Unmade Index was slightly down today after a relatively big adjustment in small cap Gumtree Australia (-22.22%).
Gumtree’s fall coincided with the ASX filings that recorded an off-market sale of 8.85m shares at 14c — the price the now recorded for the stock on the ASX. Check out this article for a little more background on the company.
News Corp had a big positive move (+6.36%), but that doesn’t count to the Unmade Index — we exclude it because as a massive, dual-listed company, it would swamp all the other signals. But the market clearly approves of recent buybacks.
