Lucian is still on his grand tour of Eastern Europe but before he left he told me his two sell tips of the year for 2017. The first, natch, was Cloudtag (CTAG) HERE. The second, at 384.5p, is Plus 500 (PLUS).
The Market reaction to last Tuesday’s news that the FCA was proposing stricter rules for CFD products was predictably savage. What surprised me was that IG Group (IGG) led the way with a 40% fall whereas Plus 500 (PLUS) fell “only” 27%. Since then IG has continued to weaken ( 470p at the time of writing) whereas Plus has rallied a little (373p ditto).
I do not use CFD's. They seem like a mugs game and indeed research by the FCA shows that 82% of clients of the big providers lose money. But then most folks lose on the horses or on betting on football so why target CFDs? It is all driven by MiFD2. We saw this take shape in Cyprus last week although Plus500 denied that it would be affected in a pathetic rebuttal to my scoop. That rebuttal was bollocks and Plus shares are among the big fallers today as the FCA has weighed in with a series of measures.
I am back in the Hellenic Republic once again and it appears that there may be a few problems ahead for AIM listed Plus 500 (PLUS) in the Greek speaking world. A contact flags up developments in Cyprus where - as you can see in the attached document - Plus does much of its business.
Having received an email from Plus 500 (PLUS) PR Reg Hoare re my recent article. I am more than happy to stand corrected on a couple of points and suggest you read Reg's mail HERE. I accept that Plus 500 does not provide binary options and nor does it cold call prospective clients, however I would however like to make the following points in relation to the email below.
Yesterday I ran an email from PR Genius Reg Hoare who acts for Plus500 (PLUS) which tries to set the record straight after Lucian Miers' article the previous day. At the end of his email Mr Hoare states "I wouldn't for one moment presume to tell you how to run your Share Prophets web-site, but" he then tells me how to run my business. Ok Reg, I wouldnt presume to tell you how to run your fecking PR business but...









