Jason3112 Apr 2014 08:56
Increased spending, decreased profits. With such a large P/E, this bad news was always going to have a huge negative effect on the SP. There is also fear that there is a dot com bubble burst on the horizon and that recent IPOs for similar companies are massively overpriced (just like here). DOn't get me wrong, ASOS is successful but it is way overpriced. I am sorting this big time (just to be clear) from over 4700; just so we are all clear. It will be interesting to see where it stabilises in the next few weeks.