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It’s a cyclical business. Whenever markets are rising and people have spare cash they say trade more.
"Marketscreener is forecasting" ???
Downgrades and negative analyst reports tend to cluster approaching a bottom.
Don't believe anything you can read for free, or aimed at retail investors.
FWIW, I'm "forecasting" that CMC will double in the next year.
From a Net Income of £178M in 2021 Marketscreener is forecasting £17M in 2024 and £25M in 2025. Struggling to see any deep value above 50p. CMC appear to have lost the ability to make any meaningful profit. Does anybody know why? I know volumes have declined but didn't they see that coming? Can't they adapt top market conditions?
AceOfClubs
It looks like it has bottomed. Seems like deep value at this level. Any retest of 93 is a buying opportunity.
They can buy us for £2 a share, that would give me back my profit ta
Plus500’s results have gone down well with the market. Over to CMC…
Have seen this mention in any RNS, this post is the first I've seen it?
Last year interim results said - "In H1 our Australian stockbroking business finished the period with a modest reduction in AUA from historical record levels which is in line with Australian market performance. Activity remains elevated versus pre-pandemic levels. The migration of over 500,0000 clients as of part the ANZ Share Investing acquisition deal is on track and scheduled to finish in H2 this financial year."
Then looking at the Clas Action website there has been no update for nearly 1 year:
On 19 September 2022, we filed an Amended Statement of Claim on behalf of the applicants and group members, which is accessible below.
On 24 October 2022, CMC filed a Defence to the Amended Statement of Claim. (has anyone seen this?)
On 28 November 2022, we filed a Reply to the Defence on behalf of the applicants and group members.
Just chuck your monry in the bin while the gods rinse every share price bar a few .
Yes CMC are likely to have various corporate insurance policies (professional indemnity, directors and officers etc.) but these are likely to have maximum cover limits and are unlikely to pay out for mis-selling and/or breaches of financial regulations and consumer laws.
Also, not all Class Actions succeed. CFD's are well known to be very risky so bit like suing the weatherman for not saying you'll get wet when he says it'll be rainy !! The buyer beware is an inbuilt to trading any financial instruments.
Someone wants to get in cheap for sure. Broker's notes are jokes, I usually ignore them completely
Planelondon: Presumably CMC Australia has Insurance for this kind of action ?
That's a hefty cut!
WIth the turbulence going on - they might be proven wrong - but maybe at the same time their target will be hit - then up from there. Just speculating
Broker notes about as reliable use as comments on these boards!
Canaccord Genuity cuts price target to 64p from 224p.
...this Thursday.
CMC Invest is a platform that provides customers with a great value-for-money
proposition, allowing them to trade globally listed shares, ETFs, REITs, and
Money Markets across 15 global markets, with Wealth Management, Fractional
Options and Futures to follow.
SINGAPORE, Sept. 25, 2023 /PRNewswire/ -- FTSE-listed online financial trading
firm CMC Markets Plc today announces the launch of its new online and mobile
trading platform, "CMC Invest", for investors based in Singapore and the
Southeast Asia region.
CMC Invest is poised to disrupt the online brokerage market by providing
clients with the best value-for-money platform. All new sign-ups, starting at
the Gold tier, receive free monthly trades (i.e. no commission/platform fees)
for the first 5 trades for US, Canada, UK, and Hong Kong stocks and first 2
trades for Singapore stocks, with this moving to 10 and 20 trades (for US,
Canada, UK and Hong Kong) and 5 and 10 trades (for Singapore) with Platinum
and Diamond tiering. The total value for the Gold tier, which includes data
access, TradingView charts, other services and savings, is worth approximately
SGD 200 per month.
Additionally, clients who are actively trading Hong Kong stocks will benefit
significantly in cost savings as they will not be charged brokerage, trading
fees and transaction taxes. They are also not subjected to settlement and
platform fees, nor custody and safekeep fees. Importantly, clients will have
access to 2,866 HK Securities, REITs and ETFs, not just the Top 50 names on
the Hong Kong Stock Exchange.
Head of CMC Invest (Singapore), Christopher Forbes, said: "Our vision was to
provide a platform that arms investors with comprehensive tools and insights
to navigate the financial landscape, so they can achieve their financial
goals. From the onboarding to navigation to daily usage, it had to be easy to
use for our customers. In this saturated market, setting ourselves apart was
not simply about pricing, but more about confronting the hidden expenses that
have crept into the industry – from platform fees and settlement fees to
inactivity costs — that erode investors' capital and confidence. Our
commitment to creating a platform that serves everyone is a source of great
pride, and we are thrilled to unveil it today. Upon license approval, we aim
to offer wealth management, OTC Options, and aspire to eventually develop CMC
Invest into a single super app to meet our clients' needs."
An Investment App That Values Transparency
The fear of undisclosed fees has long deterred many investors from trusting
online investment platforms. This inspired CMC Invest's mission to focus on
transparency in an era where headline-grabbing tactics attract customers with
promises of earnings but loaded hidden costs or short-term benefits instead
negatively compound
The class action in Australia covering nearly 10 years of client loses could be expensive to defend and have a material impact on net earnings in the meantime. The sums at risk on an unfavourable outcome could be enormous.
www.cmcmarketsclassaction.com.au/
It’s an uncomfortable position.
Well, a person closely associated with
Deputy CEO sold 100k
Shhh!
And they were right ,it is up 15% so far.
Https://www.proactiveinvestors.co.uk/companies/news/1025953/cmc-markets-offers-value-after-recent-weakness-says-rbc-1025953.html
Close of 40% upside now on broker median, with nice divi and strong FCF:-
Share price forecast in GBX
The 5 analysts offering 12 month price targets for CMC Markets Plc have a median target of 140.00, with a high estimate of 250.00 and a low estimate of 75.00. The median estimate represents a 38.89% increase from the last price of 100.80.
Take private, for all parties, looking more attractive by the day.
CMC Markets Plc : Peel Hunt resumes coverage with add rating; target price 140p
* CMC Markets Plc : Shore Capital cuts fair value to 75p from 155p