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Screenshot of a breaking news alert e-mail from Q2 2017
It looks like investors are expecting a bang.
Shares in retail forex broker Plus500 (LON:PLUS) have traded up more than 51% in the past month, including 15% in the past week and 6% yesterday, in advance of the company’s release of Q2 results tomorrow, Wednesday August 13.
Plus500 already gave us a glimpse into what it said what will be a good quarter – back in early July the company’s Trading Update stated that:
Despite relatively subdued market activity both revenue and profit in the quarter are expected to be ahead of market expectations.
Plus500 has seen its shares bid up by a number of leading international money managers. Both JP Morgan and UK-based Odey Asset Management have built up 10%+ positions in Plus500 over the past few months.
We’ll see how things shake out tomorrow – stay tuned to LeapRate for full coverage of Plus500’s actual results when they become available.