Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading
Shares of Braveheart Investment Group plc (LON: BRH) today plunged 77.7% after the company’s shares went ex-dividend locking in the special dividend payment recently announced by the company.
The investment holding company announced on December 3 that it would pay a special dividend of 42.75p per share following the sale of its stake in Remote Monitored Systems (RMS) worth £17.4 million.
Investors who are on the company’s share roster at the close of business yesterday are set to benefit from the dividend payment scheduled for January 10, 2021.
Today’s drop reflects the upcoming payment given that the stock fell by 42p (77.7%) at the open to trade at 12p before rallying higher to trade at 24p.
You will find some publications referring to today’s price swings as a 100% rally, which refers to the stock’s rally from 12p to 24p while discounting the initial 42p drop.
Braveheart share price
Braveheart shares today plunged 77.7% to trade at 12p having fallen from Wednesday’s closing price of 54p.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .