Shares in Royal Mail (LSE: RMG) were a steal at their flotation price of 330p. It was just a shame that private investors could only get their hands on a £750 allocation at that price. The shares have been comfortably over 600p since then, but have now fallen back below 450p as the company has run into a few problems.
On Tuesday this week Royal Mail said that its letters business was doing a bit better than it had previously expected. Unfortunately, its parcels business – where there is supposed to be lots of potential profits growth – has not done as well [...]