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Share Name Share Symbol Market Type Share ISIN Share Description
Plus500 LSE:PLUS London Ordinary Share IL0011284465 ORD ILS0.01 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  +35.00p +2.47% 1,450.00p 1,555,001 16:35:25
Bid Price Offer Price High Price Low Price Open Price
1,452.00p 1,454.00p 1,471.00p 1,350.00p 1,375.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 323.72 187.58 129.57 10.5 1,660.9

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Date Time Title Posts
08/12/201809:18PLUS500 - CFD trading systems16,448
05/9/201817:57PLUS500 in FTSE250-
23/8/201813:23share drop5
16/8/201806:57be careful...2

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Plus500 Daily Update: Plus500 is listed in the Software & Computer Services sector of the London Stock Exchange with ticker PLUS. The last closing price for Plus500 was 1,415p.
Plus500 has a 4 week average price of 1,260p and a 12 week average price of 1,177p.
The 1 year high share price is 2,076p while the 1 year low share price is currently 752.50p.
There are currently 114,544,716 shares in issue and the average daily traded volume is 1,339,846 shares. The market capitalisation of Plus500 is £1,660,898,382.
saltraider: Metis, I think the shorters will be in better shape than that. The data on shorts over .5% only give the date of the last change in the short position (over .5%) and this change may have been relatively small and even negative in some cases. So a sizeable proportion of these reported short positions will have been built up when the share price was quite a good deal higher than on the last reported change date. I don't think many shorters will be under water at the current price level. They will all be suffering significant reductions in their gains as the share price rises and some may well be looking to get out at a discount by buying founders shares. From a conspiracy theorist's standpoint perhaps some of the shorts are even secret bulls aiming to get the price down so that they can buy a last tranche of founders' shares at a really low price ... and then make big gains as the share price rises again with shorts and founders overhang both out of the way. Or maybe they all do think there is a 'biggie' to come and Plus is going down to the floor. Since this is also ElC's theory, it is almost certainly not the case.
moneypenny2018: Yes and suddenly you have short sellers that are attacking the company. Why shouldn’t they defend the share price? Oh wait that’s because you make money if the share price falls... It is a Board’s responsibility to protect share price in such situations.
chucko1: OK, this is interesting. So the bulls are of the belief that enhanced volatility will lead to the level of profits that will take PLUS somewhat higher. I agree that volatility is THE key component, but followed by their increasing success in international roll-out. Multiply the two factors together and you will not be far off (barring “the big thingy”). So what of volatility? The VIX is often cited and it has moved somewhat higher since early October and has remained there (increased further, in fact). But there are also a series of VIX futures with contracts extending out to July 2019. What is notable is that the front VIX contract (Nov18) is 20.36 (and is what is commonly referred to as the VIX), but the later contracts only fall to 19.05 (in the case of the JUL19 contract). This quite gentle shape suggests that “the market” believes that volatility will remain relatively elevated well beyond Q4. Maybe, maybe not, but in theory, PLUS could actually hedge their higher earnings in part by selling VIX futures contracts! Or you individually could hedge the PLUS share price! (shame to say you would have to have a pretty big position as just one contract has a sensitivity of $1,000 per 1% volatility change (arithmetic change, not geometric). I’ve got a better idea - I just checked on the PLUS500 web site and you can trade the VIX on there! Full service on this board, I tell you. Worth pointing out that as the Dow has rallied some 350 points, the VIX has just fallen from 21.3 to 20.2. This negative correlation is persistent. What this means is that owners of PLUS really do not want to see any meaningful recovery in equities, and so as previously stated PLUS is a wonderful diversifier if sized correctly.
thefartingcommie: Plus500 has been targeted by short-sellers as analysts warn of the huge impact a clampdown on contracts for difference (CFD) ­trading will have. Hedge funds have made a £140m wager that the FTSE 250 firm’s shares will plunge further after the introduction of new regulations in August. Since making the step up to London’s Main Market in June, the proportion of Plus500’s shares in the hands of short-sellers has tripled to more than 9pc, making it the 10th most-shorted stock. Its share price has fallen 38pc since August amid uncertainty over the impact of rules that aim to protect inexperienced investors from risky CFDs. Plus500 admitted in August that 30pc of its revenue could be affected in the short term by the restrictions on CFDs, which allow investors to bet on price movements without owning the underlying asset. Figures indicate that retail investors lose money on trading CFDs about 80pc of the time.
stuffee: I agree with ElCaps's suggestion that the City has consistently underrated Plus (personally I prefer buying the underrated to the overrated). I challenge his (or her?) suggestion that the "sp has under performed for years" - the share price has increased ten fold from £1.30 to £13 over last five years (I did make enthusiastic post in Aug 2013, 2 on this BB). I find the continuing suggestion there's something nasty in the woodshed, so terrible no one can describe it, a bit tedious. I think the market has been rattled by brokers' estimates. Plus achieved pretax profits of $346m in the exceptional H1 2018 and Liberum are estimating $420m for year (Berenburg slightly less). This implies $74m in H2 or an annual run rate of just $148m. If you believe this, Plus is indeed ex growth as ElC suggests and probably bit over priced. However, feedback from the presentation in Israel to Odey and other institutions, who bought the founders' holding, in early Sept was encouraging, with suggestion that ESMA not hurting as much as feared and great potential from Singapore etc. I also feel that any adverse results from new legislation (such as increases in betting tax etc) normally wears off within around 1 / 2 years. It has also been pointed out that ESMA should have effect of eliminating many smaller competitors, who can not now compete with the required protection of punters' losses, which Plus has always offered. I feel brokers' estimates are far too conservative and (if I am correct) potentially even miseading. Anyway, all will be revealed next week with Q3 results. I'm confident of continuing outperformance with mammoth divis.
foolishben: Odey's IG short is looking good. Let's hope their long on PLUS is equally as rewarding. I held both from soon after the first regulation induced CFD share price crash in Dec 2016. I have obviously done pretty well out of them both but moved my IG holding into PLUS about 6 months ago as I just couldn't see any good reason for the price difference between the 2. PLUS should probably be at a small discount for being Israeli but in many ways it is actually a better, more efficient, more profitable business so it could be argued that the two balance out and the price should be roughly the same. The way I see it there are two possible reasons for PLUS being at the price it is currently at and heavily shorted. 1. There is something we don't know (except for Sb88 of course) 2. The market (Except Odey & Blackrock) have got it wrong and we all stand to make a lot of money in the next year. I am betting on 2. as I have always held a strong belief that PLUS is one of the most misunderstood and mis-priced companies on LSE/AIM but I appreciate I may be wrong and will keep a close eye on it.
financethoughts: Have to appreciate that we have people looking to make money over different timeframes here, some in the days and weeks, others months and years. I prefer long term investment and study of fundamentals/FCF. I respect those who look at charts and are in/out in hours or days but I don't have a clue with that.. you may aswell ask me which way the wind will be blowing at 2.30pm tomorrow! ESMA rules and updates from IGG and CMCX have clearly spooked the market, pulling down PLUS due to the same market sector. To me, nothing has changed at PLUS and (unlike IGG and CMCX) PLUS had already put in an astounding performance in H1 and Q3 trading was already going well. PLUS operate on a much more efficient ratio and don't have the patchy Revenue/FCF levels that the other two have shown over the last couple of years, CMCX especially - they are both losing ground to PLUS, shown not just in the share price growth over the last 5years (PLUS 950% vs IGG 28%, CMCX -39%) but also in their revenue growth (PLUS avg 51%, IGG 8%, CMCX 12%). I'm not surprised at the pullback, and the negative ripples from IGG and CMCX given the sector comparisons, but these are very different companies in terms of profit generation and margins.
andrewclarke99: Agreed. Will be interesting to see the effect on both IGG and Plus share price when the market opens
stuffee: The Market has IMO been over spooked by ESMA effects, coupled with the ludicrous profit estimates by the Company's brokers. Plus achieved pre tax profits of $346min in first half 2018 and the brokers are effectively estimating just $74m for the second half or $420m for year, equivalent to eps of c 220p. The super bears can have a field day by broadcasting future annual profit suggestions of just $148m (double 2018 H2). Inevitably the vulnerable share price has been hit due to the ESMA uncertainty. I am not too discouraged re ESMA. As discussed here, unlike many competitors ESMA should not have too great an impact on Plus. After allowing for 28% of its clients ( including those in growing markets such as Australia and Singapore) not within the EEA and outside ESMA's jusisdiction and the growing number of EEA clients switching to professional status, the gearing restrictions should only effect a minority of its business. And of course although the professinal clients are a minority by number, they represent a far higher value of business. In any event the Company has mentioned that relatively few of these non professional clients geared up to the maximum in the past. Plus has always offered clients negative balance protection and should gain from ESMA's new rules on this which might well eliminate smaller competitors. Like many other examples of new legislation affecting businesses, it tends to have a significant immediate impact and then over say 12m to 18m, trading recovers to former levels. The new ESMA rules took effect from 1 August and interesting, the brokers have already stated that trading since then has been "more than encouraging". Estimates for 2019 (which are probably too conservative) are pretax profits of $380m, eps of 200p and dividends of 167p. A prospective PE of around 8 and yield of over 10% won't be avalable for too long IMO. This is too great a discount against competitors, which are not growing so impressively and have now lost many of their leaing market positions to Plus. Before El Cap, sb888 and any interesting successors start learned pleading that Plus is so different to IG, since it does take small positions, they should appreciate Plus has disclosed profits from such trading positions are relatively tiny; like others, it earns its keep from dealing spreads and overnight interest charges. There is not so much difference in business models, apart from Plus' great success in new markets and superior growth. Plus does not enter the FTSE 250 until 24 Sept, so I expect considerable tracker fund buying in Sept. Markets always hate uncertainty and I guess Plus price will maintain its volatility until it starts disclosing Q3 results but I don't feel the current yield of 10% will be around for too long.
oi_oi_savaloy: I'm just repeating what someone else has said on the LSE chat but is there an argument to say that the rise anticipated when joining ftse250, the new rules (and how well plus500 has dealt with them) and other factors that everyone is saying (cant think of them right now!) will lead to the continued share price rise already been factored in to things and thus the share price might fall come results on Monday? that the recent stellar rise can't continue - that actually we're on the cusp of either a pause or fall? I wrote on the other chat that I seem to remember that the directors of plus500 have a habit of coming out with news 'out of the blue' around results time - with the share price at £20 - I'd not be surprised if they've decided to take some profit - that might be coming out on Monday too perhaps. I am a believer in this share (no expert, no access to deep research, not a trader or expert or in fact anything really); just putting my two penneth out there.
Plus500 share price data is direct from the London Stock Exchange
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