Why Interactive Brokers Stock Slumped by 6% Today
Investors didn't want to interact much with Interactive Brokers (NASDAQ: IBKR) on Wednesday. They were reacting to an announcement by the global securities brokerage that it wouldn't be drawing a particular revenue stream from a new service in a key Asian market. This pushed the stock to a more than 6% decline today, as the S&P 500 index landed in positive territory with a 0.3% rise.
On Tuesday night, Interactive Brokers announced the launch of its IBKR Lite pricing plan in Singapore. The main feature of this service is that the company charges no commissions for trades on U.S. markets made by users.
Image source: Getty Images.
Source Fool.com
