A scary end to the week for Aston Martin shareholders, with yet more wiped off the share price because of the high flotation costs. The stock has now lost over 40% of it's value since flotation at the beginning of October.
I looked at the offer at the time of the float; the share price set at the time was over 60 times earnings. Seemed nuts to me, particularly for shares in a company that has seldom made any money for anyone over it's long history, and also set against a background of uncertainty throughout the whole automotive sector.
In any case, I wish AM well, but can't help feeling that it's the sort of company that's better suited to private ownership.
