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.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
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Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
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#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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