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Plus500 Share Price Falls, Despite ‘Outstanding Trading’. Here’s Why

Practice Stock Trading
Updated: 16 September 2020

Shares of Plus500 LTD (LON: PLUS) fell around 2% on Wednesday, most likely on profit-taking activities from investors. Plus500 share price initially opened at the 4-week high at 1515p after the online broker reported “outstanding trading” activity.

“The board remains very confident about the outlook for Plus500, particularly given the company's outstanding performance so far this year,” the company said in a statement.

Online trading brokers have enjoyed a great year so far as the pandemic brought enormous volatility to markets.

Last month, Plus500 surprised the investing community by unveiling a buyback program. In a similar fashion, the firm reported an “outstanding performance” in the first half of the year.

“Plus500 delivered an outstanding performance during the first half of the year, driven by the strength and differentiation of our proprietary technology, which enabled our business and our customers to benefit from the unprecedented market volatility and event-driven market conditions experienced during the period”, chief executive David Zruia said in the results statement.

Plus500 stock price tumbled 4% after suspending interim dividend September 2020

Plus500 share price is trading around 2% lower in London today, but still close to the all-time highs at 1572p.