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PLSQF - Plus500 COVID-19 Winner But Issues Over Long Term Sustainability Remain
Plus500 Ltd.
Plus500 (PLSQF) came to the market on Tuesday and delivered their interim results for the six months to the end of June. Plus500 benefited from the huge volatility across the market seen since March as user activity surged. Unlike IG Group (IGGHY) and CMC Markets (CCMMF) whom I both given bullish rating stop previously, I am more cautious towards Plus500. Whilst there is value opportunity there, the company needs to maintain a constant user churn to deliver sustainable revenues over the long term. I am currently holding a neutral