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Screenshot of a breaking news alert e-mail from Q2 2017
Plus500 Ltd (LON:PLUS) saw its share price register a steep drop this morning.
The fall started soon after the market opened and then accelerated about an hour into the trading session. The daily decline is now at 39%, with one share in the broker trading at 238p at the moment of the publication of this article.
At some point this morning the share price was as low as 230p per share. The last time the shares in Plus500 traded at this level was November 2013.
Photo credit: Google Finance.
Meanwhile, the downturn in Plus500 share price seems to be plaguing fortunes of other startups, like TechFinancials Inc (LON:TECH), which seems to have caught the “Plus500 flu”. Shares in the provider of binary options technology fell further 2% today.
Investors in Plus500 are obviously reacting to the persisting issues with slow processing of client actions, along with continuing account freeze in the UK. In a reply to a comment on its Facebook page yesterday, the broker said it expected the situation to continue for several more days.