I got wire news from my broker yesterday that Franklin Resources reported 13.5% Passive stake in FXCM as of September 30,2015. That's a huge stake and I'm sure one of the many to come. No wonder the shorts are covering at such a pace.
never mind, I found it. Looks like they paid off LUK $148 Million and $200 Million to go. Luk is going to make out with a $50 Million interest on the loan plus all the other benefits. They are saying all the debt will be paid by 1st Q. Also the most interesting point of the presentation. For every 1% the Fed raises their rate, FXCM makes an additional $40-50 Million in profit. So if the Fed starts raising rates, you will see the share price move up substantially.
568k, which equals to 5.6 Mil pre split. Lowest since they went public. That's the number as of 9/15. Should drop below 5 mil when the new number comes out by the end of this week.
The shorts have managed to cover enough shares to bring it to below 6 million without any kind of short squeeze. I am amazed that the retail investors are just giving up and letting this happen. If the retail held tight, then this stock would be trading in the $3 range. The shorts know that once the FastMatch and other sales go through, the share price will spike. Its such a shame these weak hands are letting them off so easy.
V3 also did $3.8 million in EBITDA last Q. I don't think they will sell V3 for $20-30 million when their yearly EBITDA is closing in on $15 Million this year.
Hotspot (a competitor to Fast Match)
was sold by KCG in January 2015 for
$365M in cash and contingent tax
payments up to $70M