FXCM hits its IPO price for first time since 2011
Leading global retail FX broker FXCM, a member of LeapRate’s Approved List of regulated FX brokers, hit a major milestone on Monday when its share price on the NYSE rose to exceed its December 2010 IPO price for the first time in about a year and a half.
Since FXCM announced its Q4 results and February volumes last week, FXCM stock has rallied 3% to now sit at $14.07 per share. FXCM went public in December 2010 at $14 per share.
FXCM share price, Dec 2010-present. Source: Google Finance.
Other than being a neat milestone for FXCM, the major effect of FXCM’s share price rise may indeed be on some of its competitors. A number of other retail FX firms have had their eye on going public for some time but have been basically unable to, as long as the market was bearish on FXCM and its rival Gain Capital (Forex.com), which both went public in December 2010.
FXCM hits its IPO price for first time since 2011 Conclusion
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