Covid has been miserable for Moneysupermarket. While many of us have been sitting in front of computers, searching price comparison websites has not been the favourite pastime. However, yesterday’s £101 million takeover of the Quidco cashback operation gives the company new impetus that was warmly welcomed by the stock market.
In June last year Tempus advised avoiding the shares, as Covid’s impact on the company was becoming apparent. They were 324p then and, even after yesterday’s upturn, they are still more than 100p south of that. Only last month the broker Peel Hunt warned that the market had “fallen out of love with Moneysupermarket”.
Before the Quidco deal, the third-quarter announcement was set to be a drab affair. Car and motor insurance revenue shrank and
