Alon Gonen acquires 1.1m shares in Plus500

Maria Nikolova

Mr Gonen acquired more than 1.1 million shares in the brokerage on March 17th and March 18th, 2020.

Plus500 Ltd (LON:PLUS) has just reported that one of its co-founders – Alon Gonen, has purchased more shares in the online trading company.

A regulatory filing says that Mr Gonen has acquired shares of NIS 0.01 each in the company (“Ordinary Shares”). He bought 937,254 shares at a price of £7.625 per share on March 17, 2020. Further 164,188 shares were acquired at a price of £7.886 per share on March 18, 2020.

Mr Gonen had bought Plus500 shares earlier in March. As FinanceFeeds reported, he purchased a total of 445,064 shares at an average price of £9.38 per share. The transaction is dated March 2, 2020. Let’s note that, in December 2019, Mr Gonen purchased an aggregate of 500,000 shares in Plus500 at an average price is £7.634 per share.

Mr Gonen acquired the shares through Sparta 24 Ltd.

On March 16, 2020, the broker issued an update regarding the ongoing period of increased market volatility resulting in heightened volumes of trading.

The brokerage says it continues to see a significantly increased level of customer trading activity alongside strong momentum across all financial and operational KPIs. The company has seen strong revenue from Customer Income due to the heightened levels of market volatility. Plus500 says it has also experienced gains from Customer Trading Performance which is expected to be neutral over time.

The company notes that it is at an early stage of the financial year and given the uncertainty regarding the duration of current levels of volatility or the unquantified potential impact from regulatory changes in Australia, it remains difficult to predict the outcome for the full year at this stage.

However, Plus500 forecasts revenue and profitability for the full year to be substantially ahead of current consensus expectations.

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