Jul 22, 2022Liked by Graham Neary

Not familiar with the name in detail. But surely spreadbetting/CFD where IG lead are small markets in the US due to lack of CGT benefits over there? Hence I'm not sure why you would acquire a subscale US broker, that can't compete on cost with Interactive (etc.) and saw a massive benefit from COVID. Or am I missing something?

Expand full comment
Jul 21, 2022Liked by Graham Neary

Slightly quixotic to issue 61m new shares then immediately do a share buyback …

Expand full comment