What’s Happening At FXCM?
FXCM Inc stock tripled between December 11 and December 28. On Monday, shares rose as high as 40 percent from the previous week’s close.
The stock, which has a moderate but not overly high 8 percent of its float short, last hit the $15 range in June (by split-adjusted prices).
Of note, shares booked a similarly impressive one-day gain of 50 percent on December 14, shortly after FXCM reaffirmed its $130 million buyback program and said it was still “committed” to restructuring its bailout agreement with Leucadia National Corp.
A few days later, FXCM Director Ryan Silverman bought 21,000 shares.
Leucadia has made back three-times its initial assistance program made to FXCM in January after the company struggled with liquidity in the face of a surprise move by the Swiss franc.
FXCM did not immediately respond to a request for comment.
Source: Yahoo Finance – What’s Happening At FXCM?
