The asset management firm of Crispin Odey keeps buying Plus500 shares, while GAIN commits $50m to buyback
Shares of two publicly-listed retail brokerages are in focus today. GAIN Capital’s stock rallied 12 percent after the market open in New York. The material move higher came after the firm announced a new buyback plan.
Meanwhile, the well-known UK asset management firm owned by Crispin Odey, Odey Asset Management continued to acquire a stake in Plus500.
The stock of the Israeli brokerage company has declined over 30 percent since August 1st. On that date, the European Securities Markets Authority (ESMA) implemented new Leverage restrictions for retail brokers.
GAIN Capital’s Massive Buyback
Earlier today, GAIN Capital has announced that the company is committing $50 million to execute a new share buyback program. The move makes the company the only publicly traded retail FX and CFDs brokerage, whose stock trades higher when compared to the beginning of August.
The management of GAIN Capital is committed to leveraging its solid balance sheet. Back in May, the firm announced the sale of its institutional unit, GTX to Deutsche Borse’s 360T. The sale netted the New York-listed brokerage company $85 million.
After the market opened for trading, shares of GAIN Capital rallied over 12 percent to trade at $7.66 as of writing. Shares of the company are still trading about 18 percent lower than on January 1.
Plus500 and Odey Asset Management
While GAIN is committing its own cash to boost its share price, Plus500 is the only company from the retail FX industry trading higher when compared to January of this year.
The firm posted mind-blowing numbers in the first half of the year. However, it warned the market that it expects a tapering in its revenues. Driven by the crypto boom which started in the fourth quarter of the year, Plus500’s shares are still trading over 42 percent higher since January 1st.
Odey Asset Management has been an active buyer of the stock of the Israeli brokerage on the way down. A regulatory filing earlier today shows that the firm added another percent to its holdings.
Crispin Odey’s fund is currently holding 12 percent of the company’s stock. The UK asset manager has been an active trader of Plus500 over the years. Back in 2015, Odey was arguing against Playtech’s bid to acquire the retail brokerage for £460 million.
The current market cap of Plus500 is £1.42 billion ($1.87 billion), while that of GAIN Capital stands at $342.8 million.
Shares of two publicly-listed retail brokerages are in focus today. GAIN Capital’s stock rallied 12 percent after the market open in New York. The material move higher came after the firm announced a new buyback plan.
Meanwhile, the well-known UK asset management firm owned by Crispin Odey, Odey Asset Management continued to acquire a stake in Plus500.
The stock of the Israeli brokerage company has declined over 30 percent since August 1st. On that date, the European Securities Markets Authority (ESMA) implemented new Leverage restrictions for retail brokers.
GAIN Capital’s Massive Buyback
Earlier today, GAIN Capital has announced that the company is committing $50 million to execute a new share buyback program. The move makes the company the only publicly traded retail FX and CFDs brokerage, whose stock trades higher when compared to the beginning of August.
The management of GAIN Capital is committed to leveraging its solid balance sheet. Back in May, the firm announced the sale of its institutional unit, GTX to Deutsche Borse’s 360T. The sale netted the New York-listed brokerage company $85 million.
After the market opened for trading, shares of GAIN Capital rallied over 12 percent to trade at $7.66 as of writing. Shares of the company are still trading about 18 percent lower than on January 1.
Plus500 and Odey Asset Management
While GAIN is committing its own cash to boost its share price, Plus500 is the only company from the retail FX industry trading higher when compared to January of this year.
The firm posted mind-blowing numbers in the first half of the year. However, it warned the market that it expects a tapering in its revenues. Driven by the crypto boom which started in the fourth quarter of the year, Plus500’s shares are still trading over 42 percent higher since January 1st.
Odey Asset Management has been an active buyer of the stock of the Israeli brokerage on the way down. A regulatory filing earlier today shows that the firm added another percent to its holdings.
Crispin Odey’s fund is currently holding 12 percent of the company’s stock. The UK asset manager has been an active trader of Plus500 over the years. Back in 2015, Odey was arguing against Playtech’s bid to acquire the retail brokerage for £460 million.
The current market cap of Plus500 is £1.42 billion ($1.87 billion), while that of GAIN Capital stands at $342.8 million.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
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
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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
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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
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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
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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.
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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
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#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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