CMC Markets expects to capitalise on long-term growth opportunities, despite experiencing a dip in trading activity on its platforms.
Investors ditched shares in the company this morning, with CMC Markets shares sliding more than 26 per cent to 308p.
In a trading update released today, the trading platform said: “The Group continues to have confidence in the long term growth opportunities of the business and in conjunction with further progress on its strategic initiatives.”
The company said it entered the current financial year in rude health, with underlying fundamentals in a robust position and monthly active client volumes tracking similar levels reported in their last trading update.
However, CMC warned that stabilisation in equity markets as the spectre of Covid over the global economy has receded “resulted in lower trading activity across both the newly acquired and existing cohort of clients.”
Client retention levels also came in lower than expected, which may result in full-year net operating income to come in between £250m – £280m.