Shares of retail forex broker Gain Capital (NYSE:GCAP) fell as much as 10% during trading on Tuesday, dropping briefly below the $6 level for the first time since 2013. (As at the time of writing they were sitting at $6.16, down 7% on the day).
Gain Capital, which operates the Forex.com brand, went public in late 2010 at $9 per share.
GCAP 1-year share price chart
GCAP 5-day chart; notice the gap to begin trading Tuesday, Source: Google Finance
The drop does not seem to be affecting Gain Capital’s rival FXCM (NYSE:FXCM), whose shares are up more than 1% on the day.
Gain Capital yesterday reported a net loss of $5.2 million for Q2. Gain also reported July FX volume metrics, which seemed to be somewhat improved, with its all-important retail volumes up 10% from June to $183.2 billion.