Buy, buy, buy! JP Morgan crosses 10% ownership stake in Plus500
In continued bullish fervor, JP Morgan crossed over 10% in ownership stake of Plus500 (LON:PLUS). Just last Friday, JPMorgan had increased its interest in Plus500 to 6.8%. Also, reported several weeks ago JPMorgan had hit a 4% holding in Plus500. Does the steady pace of buying from the investment giant enhance your perception of Plus500 the company and the stock? Does it make you want to buy?
This year alone (2014) the stock (LON:PLUS) has doubled in price. It looks like JPMorgan expects more positive results over the next few years as they have taken a strong interest in holding a significant amount of shares in the company. Plus500 Ltd shares (LON:PLUS) were trading a tad lower Wednesday morning off 5.5 pence at 619.50 (-0.88%) in mid-morning trading.