Which listed financial is up 230% since the market crash?
Shares in listed financial OneVue have risen 230% since the market crash as it was announced it would be acquired by Iress and it sold dealer group Madison to Clime.
The firm had previously been struggling in the market downturn and by the time of the market crash on 23 March, it had fallen 69% since the start of the year.
This was the result of factors such as a $27 million loss as a result of its Sargon transaction.
However, it had since strongly recovered largely thanks to the announcement at the start of June that it would be acquired by Iress. It also sold financial planning dealer group Madison to Clime Investment Management in June.
Shares in financial planning software firm Iress were up 31% over the same period, in line with the ASX 200 index, while Clime Investment Management shares were up 15%.
Share price performance of OneVue, Iress and Clime versus ASX 200 between 23 March and 17 June 2020
Performance since the start of the year by OneVue was 2.7%, making it one of the few listed financial stocks to report positive gains this year. Iress lost 3% while Clime and the ASX 200 both lost 9.5%.
Share price performance of OneVue, Iress and Clime versus ASX 200 since start of 2020 to 17 June 2020
AUTHOR
Laura Dew
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