CMC Markets’ Covid Gains Vanish as Retail Traders Shy Away
- Stock endures a two-day plunge after firm notes lower volumes
- CMC has lost about two-thirds of value since April 2021 peak
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CMC Markets Plc, a British online trading firm whose business boomed during Covid-19 lockdowns, is close to erasing its huge gains of the pandemic era.
The shares plunged 21% late Monday and extended declines on Tuesday after the company warned of a more “challenging environment” due to lower equity volumes in February and March. They are now only 26% higher than when the UK first went into lockdown in March 2020, having lost about two-thirds of their value since hitting a record peak in April 2021.