Last year started terribly for Plus500 (PLUS). In February, a full six months after European regulators tightened rules on the sale of spread-betting products, the contract for difference (CFD) provider drastically cut its profit guidance. A week later, it revealed a “drafting error” in its 2017 accounts, further spooking investors. A dire trading update followed in April, disclosing subdued client activity and pushing the stock to fall to a two-year low.
IC TIP:
Hold
at
946p