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FXCM Up 30% Amid Upgrade, Possible Short Squeeze

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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.

Following the recent move in the Swiss franc and the firm’s subsequent capital deficiency, multiple firms downgraded the stock last week, including JP Morgan, Credit Suisse and Citigroup.

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

DateFirmActionFromTo
May 2015Keefe Bruyette & WoodsMaintainsUnderperform
Mar 2015CitigroupMaintainsSell
Mar 2015Keefe Bruyette & WoodsDowngradesMarket PerformUnderperform

View More Analyst Ratings for FXCM
View the Latest Analyst Ratings

Posted-In: Citigroup Credit Suisse JP Morgan Keefe Bruyette & WoodsNews Intraday Update Analyst Ratings

 

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