logo-loader
FinanceInvestments and investor services
Plus500

Short-sellers get it right as Plus500 warns about trading

Plus500 was one of the most shorted shares on the London stock market ahead of the update

CFD
2019 trading has turned down

Short-sellers were rubbing their hands as CFD group Plus500 Limited (LON:PLUS) shed more than a third of its value on a warning results this year would be far below previous expectations.

PLUS500 was one of the most shorted shares on the London stock market ahead of the update.

Tighter European regulation on CFD trading had affected revenues more than expected said the Israeli group.

Combined with increased marketing to attract customers this had hit profits, which would be 'materially lower than current market expectations' as a result.

Plus500 also reduced its final dividend payout by 24% having boosted the interim by almost six-fold.

Profits for the year rose 90% to US$379mln but were boosted by an exceptionally strong first quarter when cryptocurrency trading was feverish.

Asaf Elimelech, chief executive said the business had seen a marked reduction in group revenue directly attributable to the new regulatory framework.

 

Quick facts: Plus500

Price: £7.14

Market: AIM
Market Cap: £808.01 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

'May only be a matter of time' before Uranium price recovery with...

Mining Capital's Alastair Ford discusses the planned slow down in production from Kazatomprom (LON:KAP). The miner's looking to cut output from its Kazakh mines by around 20% through to 2021. He says that extends the timeframe of its previous production curtailment by a further year, and...

2 days, 8 hours ago

RNS

Transaction in Own Shares

2 days, 12 hours ago

Transaction in Own Shares

3 days, 12 hours ago

Holding(s) in Company

4 days, 9 hours ago

Transaction in Own Shares

4 days, 12 hours ago

Director/PDMR Dealing

5 days, 12 hours ago

Transaction in Own Shares

5 days, 12 hours ago

Director/PDMR Dealing

6 days, 12 hours ago

2 min read