Johnathan Webster-Smith, CIO quoted in Wealth DFM 1st June 2022

48 companies in the FTSE 350 have seen their stock market values fall by at least a third since the start of the Ukraine crisis, shows research by Bowmore Asset Management.

The biggest fallers have been technology companies. Review website Trustpilot, which listed just over a year ago, has seen its shares fall the most with a 66.2% decline since the start of the year. This has wiped £750 million off its market value.

This is followed by biotech company Oxford Biomedica with a 60.4% fall and grocery technology company Ocado with a 56.6% drop, knocking £8.5 billion off its market value.

Other stocks which have seen big falls include several household names, such as JD Sports (-42.7%), Marks & Spencer (-40.8%), Pets at Home (-40.2%) and ITV (-36.2%).

Jonathan Webster Smith, chief investment officer at Bowmore, says: “With so many companies seeing sharp falls in their share prices, investors can now pick up good quality companies at value prices.”

Read more: https://bit.ly/3mjGvmM

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