shareordie, bit of a fluke in timing, however, my reasons for selling a third was to take advantage of other stuff and the fact that IG Group has largely recovered from it's very much oversold position.
I still retain it at 2.15% of my portfolio at the price on my screen of 780. It makes money nicely IG Group and is pretty well established.
A 10% hit obviously isn't good but it's also not to bad at the same time,I believe that the company can now move on and prepare for the future,and it can still pay that nice chunky dividend.
Expansion outside of the EU may be targeted more now but I think they were already doing that,and we may find that when clients are faced with restrictions they will choose the professional account.
But I feel a good healthy business will still prevail and maybe this will get rid of the rouge competitors.
We there is nothing wrong with taking a profit, although it does depend on the next financial report if this goes higher or not.And like you say the outcome of the regulation.
A good outcome and this could go much higher,and a bad outcome could see it lower.
Hope you are right M, it's been on my Watchlist since 258.5p on the 11th June 2009 and I've never taken the plunge, until last week @ 745.25p - nice to see a quick 8% uplift but intend to hold these for a good while.
I got some bought back at 734p.
Didn't dip to 720p.
I don't think IG will be off to races yet though.
It will be held by UK and EU regulatory cloud.
When that is cleared market will focus on what earnings will be under new regulations.
We do have though US licence pending which in the long term could be huge game changer. Add to that the fact that some small players will be cheap to acquire under the new regulations, some of them will fold. The big will survive.
So I'm not expecting IG to jump higher anytime soon but long-term this is a big buy. So I'm thinking of dosing off trading this now and just take the dividends when they come.
Wow really impressed with these results, although they are not happy about regulation it does seem it's not going to effect the business to much and they said the business will grow even with the new measures in place.
Excellent results. Increased dividend, profits up another 10%,
company swimming in cash. Does it take about £16 per share to get to ftse 100? I'm getting ahead of myself now but that could be possible within 2-3 years.
It looks like todays rise was in response to IGG having a big stake of the bitcoin market. When plus500 reported couple of weeks ago, they highlighted improved revenue due to bitcoin trading. Presumably igg holds much larger stake of this market, and therefore, expectation is now that this should boost igg results on Jan 23rd and in the future. This new market has the potential to completely outweigh the changes in regulation in the EU and UK. Not to forget that IGG is now also looking to become a player in the US. That could re-rate igg to much higher PE and sp.
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