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.

ARN was up (+1.88%), as was Ive (1.03%) and Enero (+0.76%). Pureprofile (2.22%) and Nine (-0.89%) both slightly down.