UK 19:17 Wednesday, 23 September 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Top broker Numis has ceased its coverage of Plus500 (PLUS) with an incredibly damning note for its institutional clients, which just happens to have fallen into my possession. Steve Moore and myself have been bears of this stock for a while and we remain so. Now over to Numis which writes:
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Comments
alcira16247
Tom
I bet the Muppets at Playtech are breathing a long sigh of relief after reading the damning note from Numis.
Were as many financial commentators harboured serious concerns over the whole business model operated by Plus500, seems it was only at the last moment that the Playtech board drew back from the deal, thus saving their shareholders major heartache!
Now, what about that other dubious dog Utilitywise (UTW)? …… shares tanking for weeks now, down today over 13%! Big questions marks over this one, nasty smell in the air!
Simple Moving Avarice
Damning note? Plus seem to operate in an ethically dubious way and this note says they are really good at it.
When you are a gambling business, your best customers are the ones who shouldn’t be customers at all. Move to a jurisdiction where they aren’t so fussed about KYC and you can help your customers “go broke in peace and quiet” as they said in “Guys and Dolls”.