WPP shares have haemorrhaged so much value that the group’s name could stand for “Worst Price Performer”. Shares in the advertising and media group have fallen by more than a fifth in the past month, most of that in the wake of last week’s abrupt profits warning.
Worse still, the shares are down by just over a third since the start of the year as worries about how it will carve out a new and viable future have taken root. That is equivalent to more than £5.5 billion in lost shareholder value and WPP, while likely to retain its coveted position in the FTSE 100 index, is valued at just over £11.25 billion, compared with more than £16.8 billion at the beginning of January. What’s