The stocks of XTB SA, a major Polish multi-asset broker, shot up by 13% on Thursday, following the release of their Q1-2023 financial summary after markets closed the day before.
XTB’s stocks achieved a record peak of zł 41.12 during Thursday’s trading session, signifying the first time that their stocks have surpassed the zł 40 mark. As recently as September of last year, XTB’s stocks were trading for less than zł 20 per share.
The stocks ultimately finished at zł 39.94 at the end of the day, a new all-time closing high, granting XTB a market capitalization of zł 4.69 billion, which is equal to USD $1.13 billion.
Investors seem to have been encouraged to push the price of XTB stock higher as a result of their impressive Q1 results in terms of both Revenue and Profit.
Furthermore, the company’s ability to sign up a record number of new clients in 2023 – with over 104,206 new customers – gives the impression of a strong future outlook. Even though XTB had fewer active trading clients in the first quarter of 2023 than in the prior two quarters, this significant uptick in new customers suggests a prosperous future.
XTB managed to acquire customers for a relatively small amount of money, spending an average of less than 800 zł (USD $192) for each customer it gained during the quarter. This is significantly lower than the 1,100 zł they spent to acquire customers in 2022.
Read more: Admirals Adds 32 New Currency Pairs | Brokers Times
