Plus500 Shares on the Rise, Driven by COVID-19 Boost

Although Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term might have cast a shadow of uncertainty over many things, it appears to have not had an effect on Plus500’s share buyback program, with the broker announcing this Friday that it has repurchased even more of its shares, as its share price continues to climb.

According to a filing through the London Stock Exchange (LSE), the Israel-based broker has repurchased 33,500 shares on the 16th of April 2020, at a volume weighted average price paid per share of £11.8, bringing the total to around £395,300.

In this latest round, the lowest price paid per share by Plus500 was about £11.49 and the highest price paid per share was £11.95, the company said.

This purchase follows just one day after the London-listed company purchased 21,317 shares at a volume weighted average price paid per share of £11.76 on the 15th of April 2020 (around £250,688.0 total price).

“The Company will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 106,837,135 (excluding treasury shares), and the company will hold 8,051,242 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 106,837,135,” Plus500 said in today’s statement.

Plus500 COVID-19 boost

As reported by Finance Magnates Plus500 is currently thriving, with the coronavirus pandemic providing a boost to its operations, as Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term has caused a surge in trading activity.

In the first quarter of 2020, Plus500 achieved “exceptional Q1 revenues”, according to the company. When comparing Q1 of 2020 revenues, which was $316.6 million, against the same period of the previous year, exceptional might just be the right word, as this is a 487 per cent yearly increase.

Because of this solid performance, Plus500 shares have been on the rise since the middle of March this year, rising from GBX 731.20 on the 16th of March, to GBX 1162.50 as of the 16th of April, 2020.