That’s why the share of the project developer Instone crashes

Frankfurt The reaction came late – but it packs a punch. Investors reacted with fright on Thursday to the fact that the board of the listed real estate developer Instone dropped its annual targets after a drop in sales and profits at the start of the year. Investors sold the paper, which is listed in the SDax stock market segment, on a large scale. The titles slipped by more than 40 percent at times and marked a low of a good nine euros.

CEO Kruno Crepulja had previously withdrawn his goals for 2022 on Wednesday evening and no longer dared to make any new forecasts. In view of the uncertainties, a reliable outlook is not possible, he explained. The manager cited the consequences of the Ukraine war as one reason. “From today’s perspective, the effects of the Russian invasion of Ukraine will lead to ongoing supply bottlenecks and rising construction costs.”