FXCM: On The Road To Zero?

shares were trading lower by $0.07 (4 percent) at $1.88 in Wednesday's session. The foreign currency broker that was caught on the losing end of the surprise back intervention by the Swiss National Bank in mid-January has been unable to recover. On that dreadful day in January, the issue swooned from its January 15 closing price ($12.63) to $1.60 two days later after the trading halt in the issue was lifted. Interestingly, the issue declined over $2 (from $14.87 to $12.63) on the Friday preceding the surprise move by the Swiss National Bank. Over the past few months, it has meandered in the lower $2 handle. In today's session, it failed to crack the $2 market and has declined to $1.85 so far. There is only one other low that stands between FXCM and its all-time low ($1.28) and that would be its January 21 low ($1.65).