Covid-19 Turmoil Provides Boost For IG Group
The whole world is talking about one thing, the consequences of the coronavirus crisis. In both the short- and long-term, we are just starting to emerge from the murky waters of speculation and unfounded guesswork.
Many businesses are struggling massively, with staff being laid off, stores closing and no concrete idea of when trading can begin again, and we are still only at the beginning of what will, very likely, be a period of intense turbulence, upheaval and disorder.
However, while the vast majority of organisations have been hit heavily right where it hurts, there are some outliers. IG Group, for example, looks to be more than riding the wave – it is absolutely soaring.
The IG Group Bounce
The FTSE 100 is, in rather simplistic terms, being absolutely battered. Almost half a trillion dollars has been wiped away in less than a month, and traders from all corners of the globe are struggling to see any viable options that are likely to see revenues increase.
But, in the midst of all this drama, IG Group – the well-established online trading platform – has announced that it has been able to grow its revenues by almost a third since the beginning of the year.
That sort of growth would be almost impossible during ‘normal’ times, but as we are all very well aware, these current times are very far from normal.
Average revenue accrued by the clients of the firm has risen by a thoroughly impressive 9 percent when compared to the same period on 2019, while the number of people jumping on the back of IG’s success has seen its client numbers skyrocket, with the firm declaring that it has 21 percent more users than it had at this time last year.
Will This Continue?
It is, at the moment, impossible to predict what will happen tomorrow, let alone next week, next month or next year.
Investments have always been something of a gamble – revenues have always risen and fallen in line with wavering market performance – but the situation in which we currently sit is unprecedented.
Shrewd investors can, of course, use market uncertainty and ongoing fluctuations to benefit themselves, but the means of doing this is only getting more confusing by the day.