After Tuesday’s report of Odey Asset Management, increasing its stake in Plus500, JPMorgan conversely reduced its stake in the company to 5.77%.
From its previous share of 6.18%, JPMorgan decided to sell 476,180 shares of the retail FX and CFD broker, owning now 6,624,699 shares of Plus500.
With Odey Asset Management, these moves correlate with the extensive volatility on shares of the company during last week, dropping over 30%. They even dropped on Wednesday below 400p a share.
All these moves seem to be spurred by Friday’s announcements of technical warnings on the website.
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