As of the time of publishing, XTB’s share price has dropped by 35 percent since Tuesday.
After releasing its financial results on Tuesday the 28th of July, the share price of Polish brokerage XTB, which has been on an upward trend since around March, has taken a turn for the worst.
In fact, since releasing its financial report on Tuesday, XTB's share price has fallen by more than 35 percent as of the time of publishing, falling from PLN 29.10 (EUR 6.60) at its peak on the 28th of July. On Wednesday, the broker's share price fell down to PLN 19.50 by the end of the session and has continued to move up and down this morning.
Despite this decline, it is worth pointing out that year-to-date, the Polish trading provider's shares are still up more than 370 percent as of the time of publishing, but this number is reducing as the broker's shares continue to trend downwards.
Investors flock to broker's stock
It is also interesting that on the 29th of July, when XTB's shares did the majority of the downward movement, trading of the company's stock was at historically high with a volume of PLN 170.31 million, with more than 7.57 million stocks traded.
Speaking to Finance Magnates, Paweł Szejko, CFO and Member of The Board at XTB, explained: "The first half of 2020 was record breaking for XTB for many reasons. From the perspective of the last few quarters we reported extremely good results. Consolidated net profit amounted to PLN 293,5 million compared to PLN 5,2 million a year earlier. We also noted a record number of new clients i.e. over 52 thousand compared to 16 thousand a year earlier (an increase of 225,9% y/y)."
"Unfortunately, the broad market's expectations concerning Q2 results, especially of individual investors which recently were extraordinary active in trading of XTB shares, were in our view far higher."
XTB reports solid H1 of 2020, but Q2 lags
As Finance Magnates reported, XTB reported a stellar first half of 2020, driven by the broker's performance in the first quarter of 2020, which captured the heightened market Volatility seen towards the end of February and throughout March.
Although the broker reported positive metrics for the first half overall, the financial report did show a notable slow down during the second quarter, which might be the reason behind the drop in the share price.
In particular, in the second quarter, net profit was PLN 117.52 million, whereas the first quarter of 2020 recorded a net profit of PLN 175.97 million, which is lower by 49.7 percent. Net operating income also fell from PLN 306.7 million in the first three months of the year down to PLN 211.5 million (31.0 percent drop).
However, the situation definitely wasn't all bad for the Polish broker during the second quarter. In fact, the firm added more clients in the second quarter than it did in the first (39.3 percent growth), and trading in contracts for difference (CFDs) was also stronger in Q2 (5.6 percent growth).
After releasing its financial results on Tuesday the 28th of July, the share price of Polish brokerage XTB, which has been on an upward trend since around March, has taken a turn for the worst.
In fact, since releasing its financial report on Tuesday, XTB's share price has fallen by more than 35 percent as of the time of publishing, falling from PLN 29.10 (EUR 6.60) at its peak on the 28th of July. On Wednesday, the broker's share price fell down to PLN 19.50 by the end of the session and has continued to move up and down this morning.
Despite this decline, it is worth pointing out that year-to-date, the Polish trading provider's shares are still up more than 370 percent as of the time of publishing, but this number is reducing as the broker's shares continue to trend downwards.
Investors flock to broker's stock
It is also interesting that on the 29th of July, when XTB's shares did the majority of the downward movement, trading of the company's stock was at historically high with a volume of PLN 170.31 million, with more than 7.57 million stocks traded.
Speaking to Finance Magnates, Paweł Szejko, CFO and Member of The Board at XTB, explained: "The first half of 2020 was record breaking for XTB for many reasons. From the perspective of the last few quarters we reported extremely good results. Consolidated net profit amounted to PLN 293,5 million compared to PLN 5,2 million a year earlier. We also noted a record number of new clients i.e. over 52 thousand compared to 16 thousand a year earlier (an increase of 225,9% y/y)."
"Unfortunately, the broad market's expectations concerning Q2 results, especially of individual investors which recently were extraordinary active in trading of XTB shares, were in our view far higher."
XTB reports solid H1 of 2020, but Q2 lags
As Finance Magnates reported, XTB reported a stellar first half of 2020, driven by the broker's performance in the first quarter of 2020, which captured the heightened market Volatility seen towards the end of February and throughout March.
Although the broker reported positive metrics for the first half overall, the financial report did show a notable slow down during the second quarter, which might be the reason behind the drop in the share price.
In particular, in the second quarter, net profit was PLN 117.52 million, whereas the first quarter of 2020 recorded a net profit of PLN 175.97 million, which is lower by 49.7 percent. Net operating income also fell from PLN 306.7 million in the first three months of the year down to PLN 211.5 million (31.0 percent drop).
However, the situation definitely wasn't all bad for the Polish broker during the second quarter. In fact, the firm added more clients in the second quarter than it did in the first (39.3 percent growth), and trading in contracts for difference (CFDs) was also stronger in Q2 (5.6 percent growth).
CFI Obtains Regulatory Approval for South African Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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