Purplebricks in turmoil: Shares plummet, CEOs out

The flat-fee brokerage that recently expanded to the US issued lower revenue guidance, worrying investors

The stock price drop Thursday came as Purplebricks announced that both Lee Wainwright and Eric Eckardt, the U.K. and U.S. CEOs, respectively, were leaving the company. In a statement, Purplebricks said that Wainwright was leaving for “personal reasons.” It gave no explanation for Eckardt’s departure.