Forex.com’s parent company shares are up 195% so far in 2013.
Wall Street continues to be enamored with the retail forex sector. Just one week after we reported that Gain Capital shares had closed above $11 a share the first time — and just two weeks after GCAP first hit $10 — Gain Capital shares have done it again. On a day when Gain announced it had closed on its April-announced acquisition of GFT, Gain Capital shares (NYSE:GCAP) went on yet another tear, trading up more than 12% on Tuesday to close at an all-time high of $12.06.
Gain Capital shares have nearly tripled in 2013, up 195% year to date. Rival FXCM is not far behind, up 92% this year. At its current share price, Gain Capital’s market value is about $475 million.
Gain Capital and FXCM shares were actually moving up throughout 2013 fairly step-in-step, until Gain Capital announced Q2 results which far surpassed any of its previous quarters, sending GCAP shares on its most recent tear, as per the chart below.
The question in our minds is — Which will be the next retail forex broker to take advantage of this positive momentum for the industry and go public? Stay tuned to LeapRate…