Down 35% in a day, could the Vistry Group share price be the buying opportunity of the decade?
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The Vistry Group (LSE:VTY) share price is down 35% at the start of trading on Tuesday (8 October). News of a costing error means the stock’s falling, taking other FTSE 100 housebuilders with it.
There’s a lot of risk for shareholders to consider – and these go beyond the latest news. But as I see it, I’m wondering whether this could potentially be one of the best buying opportunities of the decade.
Fear and greed
Vistry’s South Division has miscalculated the costs for nine of its 46 developments. The error is about 10% of the total build cost and it’s going to weigh on earnings until the end of 2026.
According to the company, that’s going to mean pre-tax profits will…
