FXCM Up 30% Amid Upgrade, Possible Short Squeeze
FXCM Inc (NYSE: FXCM) moved nearly 40 percent higher Wednesday amid an upgrade from Keefe, Bruyette & Woods which indicated that its the financing deal with Leucadia would enable it to resume normal operations.
Another possible reason for the stock's surge is a short squeeze. The percentage of short interest on the stock's float was 15.6 percent as of the last reporting period.
FXCM gave back some of its earlier gains and recently traded at $2.15, up 34.3 percent.
Latest Ratings for FXCM
|May 2015||Keefe Bruyette & Woods||Maintains||Underperform|
|Mar 2015||Keefe Bruyette & Woods||Downgrades||Market Perform||Underperform|
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