The +500M Pounds Fall of Plus500

By | June 6, 2015

The +500M Pounds Fall of Plus500

 

Image from : http://www.financial-spread-betting.com/news/industry-happenings/52171-fall-from-grace-of-plus500/

 

Plus500 is a company which offers online trading services to retail customers. More specifically, you can trade almost anything you can think of: forex, indices, commodities, shares, ETFs. The company was founded in 2008 by six Israeli men, alumni of Technion Institute of Technology, with an initial investment of $400k. It was listed on the Alternative Investment Market of the London stock-exchange in July 2013. The shares were initially priced around 120p, which gave the company a market value of $200M. During the subsequent two years, Plus500 went from strength to strength, unaffected by the Swiss Tsunami of January 2015 which almost brought the NYSE listed FXCM to its knees, and topped the charts at 770p in late April. Then, during one week in May, the shares collapsed from 750p to 250p, in other words, the company lost over £500M of its market value in just five trading days. Continues here

 

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