Citadel Securities is cashing in on the boom in US retail trading, accounting for 40 of every 100 shares traded by individuals. “Not only are retail market makers getting increased trading volume, they are likely getting increased profitability per trade."https://www.ft.com/content/4a439398-88ab-442a-9927-e743a3ff609b …
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They crushed Q1 earnings and the stock is down ~10%. is it possible that Virt is awfully managed with a ton of equity dilution going on and will never see a print north of 30?
stock -10% on normalization of volatility - Q1 craziness didn’t continue. Purely macro.
I dont think $VIRT is awfully managed - the’ve done two good deals in the past (KCG and ITG) and are getting expense & revenue synergies, on top of good volatility
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Volatility and volume are both up north of 150% compared to Q4 2019 and expense synergies they won’t realize until 2021 (u can add reduction of real estate expense to that). So when do they break out? Should have issued a special dividend instead of paying off 200mm of that TL
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