Cazoo may sink further this week
22 June 2022
Cazoo’s market value could fall further this week as former Daily Mail & General Trust shareholders finally receive their stake in the online retailer on Thursday. Transfer of the shares was originally due on 27 February (when Cazoo shares were worth $4.24) but has been delayed several times.
They are now worth $0.99.
Former DMGT investors own around 11% of Cazoo, says William Mileham, an analyst at Mirabaud Securities, and “may be tempted to cut their losses and sell”.
Cazoo was valued at $8bn when floated via a Spac last year, but its share price has fallen 90% and it is now worth $722m (£590m). That’s still a rich valuation compared to other retailers which generally own land, pay dividends and post profits, said Mr Mileham.
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Cazoo 
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