In between negative earnings warnings on the part of major retail brokerages, Plus500 is bucking the trend. The company has just announced that it is seeing positive momentum in earnings in October and November.
Last month the firm mentioned an upbeat month of October when it reported its Q3 earnings. On the 23rd of October, the firm guided the market into a positive momentum after a tough August and September.
The sharp hit to trading activity due to ESMA regulations appears to be moderating, at least for Plus500. The company is yet to put out any specific figures, however acceding to a trading statement issued via the LSE newswire, the strong momentum reported in its Q3 Trading Update is continuing into November.
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Earnings Outlook Upgrade
The board of directors of Plus500 has issued an upgrade to its earnings outlook for the full year. In the views of the company’s senior executives, the market is currently underpricing the broker’s earnings potential.
Commenting on the matter, the Chief Executive Officer of Plus500, Asaf Elimelech, said: “We believe we are in a good position for 2019 and continue to focus on acquiring high-value customers as well as growing in existing and new jurisdictions.”
The company’s announcement makes it the second time Plus500 is pushing market expectations higher in as many months.
Shares Spike Higher
Shares of the Israeli brokerage are trading sharply higher on Tuesday. Just after the market opened for trading in London, Plus500’s stock rose 6.5 percent.