Why rightmove Is Trending Today?

Rightmove, the UK's largest property website, has reported a record number of visits in June, with over 160 million views. The platform also saw a significant increase in sales agreed, up by 12% compared to the same period last year. Rightmove's success can be attributed to the strong demand for housing and the platform's extensive range of properties.

Rightmove, a leading UK property website, saw its shares significantly drop due to plans to increase spending on artificial intelligence, which is expected to slow down profit growth in the coming years. The company's stock fell by over 28%, marking its largest single-day decline on record. This news negatively impacted the FTSE 100 index, with Rightmove being one of the key contributors to its slight decrease. The company's ambitious AI investment plans have raised concerns among investors, with some expressing nervousness about the potential impact on future profits. Despite the excitement surrounding AI, Rightmove's experience serves as a reminder that implementing such technology can have significant financial implications.