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Screenshot of a breaking news alert e-mail from Q2 2017
Last quarter (Q2), the old maxim ‘buy the rumor and sell the news’ seemed to hold, with Plus500 reporting robust results but seeing its share price tumble after reporting those results.
This time it was different. Plus500 shares completed a two-day runup of nearly 16% seeing its shares rise 9% on Wednesday, after reporting that Q3 revenues topped $56 million – up from Q2’s $45 million.
With 2014 revenues looking to easily top $200 million at Plus500, its £620 million (nearly $1 billion) market value seems a lot more reasonable than it did earlier this year.