£3.3 Million Plus500 Stock Purchased
Plus500, the international finance firm, has been actively moving forward. Earlier this month a £50 million buyback was revealed by the company. By August 19th, the company announced that £3.3 million in stock had been purchased by one of the co-founders. With each share costing £7.06, this titleholder now has more than 460 thousand shares of Plus500 Stock. Overall, the purchase made by Alan Gonen shows his commitment to the company and their growth across the world.
Management with Plus500 has already expressed their delighted views on the announcement of the Alan Gonen purchasing £3.3 million in stock. Earning heightened funds was difficult for Plus500 in the first quarter, the combined decision of the buyback program and purchasing of stock has allowed for job security amongst managements.
Furthermore, the Chief Operating Officer for the Plus500 Israel Subsidiary has also purchased stock with the company. YevgeniStuckmeyer purchased £50,000.00 in stock, allowing him to be the titleholder of several thousand shares. The £3.55 Million in shares purchased this week shows a growing trend that the challenging international environment for the cryptocurrency is depleting. Plus500 at the start of 2019 was the worst publicly traded brokerage operating globally, however, eight months into the year and they’re rising to number one.
The Times Report
Plus500 began to suffer dramatically in material revenues after a report from The Times in London, England revealed that there was an accounting error with the platform Plus500 enlisted. This caused a significant drop in client activity during the first quarter, which was already down in the low volatility marketspace in the European Union. However, the firm quickly bounced back by the second quarter. This is due to the increased volatility that came with higher valuations of Gold & the British Pound. Comparing the performance of Plus500 from Q1 to Q2 shows a significant rise, with shares jumping from £4.00 to £7.22.
