Odey Asset Management Sees Value in Plus500 as Prices Decline
Shares of Plus500 have been lower due to compliance related news which has led shares to attract value buyers like
With shares of Plus500 currently in a nose dive, apparently not everyone is a seller. In a regulatory filing issued today, Odey Asset Management was stated to be a buyer of shares yesterday, increasing their stake by 1,605,000 shares to a 14.09% stake in the online CFD and forex broker.
The buying takes places as Plus500 shares have fallen to just above 405p today after having closed last week’s trading at 750p. Dragging shares lower has been the implementation of additional compliance requirements for Plus500UK clients, accounting for 50% of the broker’s revenues. According to Plus500, as of yesterday afternoon, 55% of Plus500UK customers have yet to pass the new electronic verification process; freezing trading of new positions.
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Nonetheless, the negative environment is being viewed as a buying opportunity for Odey Asset Management. Their buying follows a similar plan of action taken in July 2014. At that time, Plus500 shares fell to a low of 345p, after having traded above 700p in previous months. That decline was the first major downturn for what has been non-stop bullish momentum in the stock following its July 2013 IPO.
For Odey, the 2014 acquisition turned out to be a well-timed buy for the value focused asset manager. After hitting a low of 345p in July 2014, shares have more than doubled to a high of 781p this past April, before the current collapse of trading. Buy continuing to be buyers, Odey appears to continue to believe the Plus500 growth story is primed to continue, with its shares being a value at current levels.
Shame on FM for cheerleading what is clearly a fraud and money-launderiing case.
Hi Donny,
you’re making a strong statement and it would be great if you could provide some evidence to back your claims.
I have taken a snapshot so hopefully they will not cut this one as well.
Unfortunately this is how Israeli politics work Donny. Israelis support Israelis.
See also FXCM. In the brink of bankruptcy and they make it appear as if its the healthiest company to trade with.
They have changed name from forex to finance in an effort to broaden their audience and become more appealing to audiences outside FX.
By being biased they are constantly losing credibility. I vote leaprate until they change attitude.
@Peter/Donny – LOL – here we go again with the blinded cheerleading comments. If you want to read with blinders then go ahead. But obviously your snapshots are cherry picking articles. Have fun getting your ‘unbiased’ coverage of ‘healthy’ brokers that have only $10M in client assets but somehow have $300B in volumes elsewhere.
I couldn’t agree more
A company that turns limit orders into stop orders is a fraud, period
Shame on FM for cheerleading what is clearly a fraud and money-launderiing case.
Hi Donny,
you’re making a strong statement and it would be great if you could provide some evidence to back your claims.
I have taken a snapshot so hopefully they will not cut this one as well.
Unfortunately this is how Israeli politics work Donny. Israelis support Israelis.
See also FXCM. In the brink of bankruptcy and they make it appear as if its the healthiest company to trade with.
They have changed name from forex to finance in an effort to broaden their audience and become more appealing to audiences outside FX.
By being biased they are constantly losing credibility. I vote leaprate until they change attitude.
@Peter/Donny – LOL – here we go again with the blinded cheerleading comments. If you want to read with blinders then go ahead. But obviously your snapshots are cherry picking articles. Have fun getting your ‘unbiased’ coverage of ‘healthy’ brokers that have only $10M in client assets but somehow have $300B in volumes elsewhere.
I couldn’t agree more
A company that turns limit orders into stop orders is a fraud, period
Don’t agree that the buy was a strategic move to take advantage of a low in share price.
Last time JPM did the buying to prop up the share value. This time it’s Odey.
They had no choice – buy or watch the price plummet further.
Don’t agree that the buy was a strategic move to take advantage of a low in share price.
Last time JPM did the buying to prop up the share value. This time it’s Odey.
They had no choice – buy or watch the price plummet further.
Yeah, your objective source is banging a different drum… “Plus500 Remains Lucrative Odey Asset Management Hikes Stake Further” You in bed with IronFX, or just casually dropping LeapRate writer?
Yeah, your objective source is banging a different drum… “Plus500 Remains Lucrative Odey Asset Management Hikes Stake Further” You in bed with IronFX, or just casually dropping LeapRate writer?