After a sharp fall following reports that showed a contraction in profits, the Hargreaves Lansdown stock (HL) has shot up again by over 4% today. The price hike is an indication that the stock is strong enough.
Hargreaves Lansdown shares fell by about 17% immediately after the company revealed the reduction of profits. In a nutshell, the company’s pre-tax profit fell by about 20% compared to the same time in the six months to 31 December last year.
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Besides profits, the company’s business also reduced by about 28% despite customer retention being strong.
The revelations of the reduction of profit came on the backdrop of HL’s announcement that it shall invest £175m to bolster its digital offering and this could be the main reason why the stock price is bouncing back.
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Hargreaves Lansdown stock is the stock of Hargreaves Lansdown PLC and it trades on the London Stock exchange under the ticker LON: HL.
In a brief, the Hargreaves Lansdown PLC is a British-based financial service company headquartered in Bristol, England. The company sells shares, funds, and related products to retail investors within the United Kingdom.
Besides being a publicly listed company in the London Stock Exchange, the HL Company is also part of the FTSE 100 Index.
If you want to invest in the shares of a British financial service company, then the HL stock could be a good choice.
Nonetheless, the ongoing crisis between Russia and Ukraine that seems to be looping European countries including the UK, could disrupt the company’s business in case an all-out war broke out.
Analysts are keeping a keen eye on the events around the Russia-Ukraine dispute that is attracting the attention of the Western and European countries including the United Kingdom. They are, however, optimistic that the HL stock price shall bounce back and possibly close the first quarter of 2022 above £1,400.
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