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The price of the major US forex broker Gain Capital (NYSE:GCAP) stock hit a 52-week low on October 25 and to $5.16 at market close, posting a 2.64% decline from the opening price of $5.30. The highest price in the 52-week period was $8.48, on November 6, 2015.
The $5.16 price is still far from the lowest ever price – $3.95 from November 16, 2012, but is even further from the peak of September 27, 2013, when Gain Capital’s stock traded for $13.11.
On October 25, 2016 the brokerage saw 148 789 of its shares trade hands, out of 48.64 million. The closing price left Gain Capital with a market capitalization of $248.17 million. It is still ahead of its main competitor FXCM, which has a market cap of $44.26 million, but a share price of $7.80 at market close on October 25.
Gain Capital Group was established in 2003 and went public on the NYSE in 2010. The company serves retail and institutional clients under the trading brands Forex.com, City Index, GTX, and Gain Capital. It is active in North America, Europe and the Asia Pacific regions. The broker offers trading in forex, commodities, and global equities. Its largest retail forex broker, Forex.com, also offers white label solutions for other forex brokers, operating throughout the world.
The latest financial report of Gain Capital – for Q2 2016 – revealed a net income of $10.2 million, up from a $7.1 million loss in the second quarter of 2015. Nevertheless, in September the stock analysts at the US financial news and services site TheStreet have downgraded Gain Capital’s rating from “buy” to “hold”.
Earlier this month the brokerage reported that its September trading volume grew 24.1% on the month to $186.3 billion, in spite the low market volatility. On an annual basis, however, it fell 40.3%.