Retail forex broker FXCM Inc (NYSE:FXCM) saw its share price drop more than 9% on Thursday, after reporting weak May trading volume metrics.
Institutional FX volumes dropped 33% MoM in May at FXCM to $50 billion, while all-important Retail FX volumes were off 2% from April, to $280 billion for the month.
FXCM shares closed Thursday at $8.90, down 9.1% on the day from Wednesday’s $9.79 close. The $8.90 close marks the lowest closing price for FXCM stock since late last year.
FXCM share price past 6 months. Source: Google Finance.