Flow Traders (FLOW NA), April 2021

I follow Flow Traders for some years but only bought shares late last year – unfortunately after the pandemic-iduced market crash. I like the company and it is one of my medium sized positions (currently seventh biggest). I took another look at flow but did not buy more shares, so far …

Investment thesis: Flow Traders is developing its non-ETP products business which could make its earnings less dependent on broad market volatility (VIX). Its crypto business could provide some positive surprises and fat profits but so far that’s all a guess – the company does only provide regional breakdowns so far. If ETP assets continue to grow, this should put Flow’s business on solid footing. The big question is how competitive will the industry be in a few years time and what are Flow’s margins. I think it is a company to watch! >> Please klick here for my Flow Traders write-up (pdf).

FYI: All company-related posts should be tagged with the company’s ticker FLOW NA. Specific company write-ups are to be founde here: Flow Traders N.V.


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