Following an ejection from the UK’s top-tier listing in August, Abrdn is poised for a return, thanks to a share price rally. According to various reports, this investment house plans to forget shareholder doubts, poor strategy, and leadership. The FTSE 100 excluded the Abrdn from its listing mainly due to a decrease in market capitalization and share price.
Thankfully, the Abrdn stock has witnessed good growth since the expulsion from the United Kingdom’s leading listed firms. For instance, the form has experienced a rise of about 35% from September onwards, resulting in a capitalization increase of about $4.3 billion.
In November, FTSE Russell, the firm that supervises the United Kingdom’s FTSE 100 and 250 indexes, denoted that it expects the Abrdn to make an incredible comeback to the top when a rebalance takes place. Although Abrdn shares have increased since its expulsion from the FTSE 100, they are still short of what the company witnessed at the start of the year. Abrdn is still amongst the top 10 most-shorted companies in the United Kingdom.
Get more information: https://www.cnbc.com/quotes/ABDN-GB
How Abrdn turned things around to return to FTSE 100
In a recent interview, the Abrdn CEO, Stephen Bird, says that he trusted his strategy to turn things around and move the company back to FTSE 100. Bird, who has been at the helm for several years, has initiated significant revamps as the firm transitions and focuses on three key aspects: investments, personal wealth, and advisers.
The strategy that has ensured Abrdn remains on the right course includes the landmark acquisition of Interactive Investor, one of the United Kingdom’s leading retail investment platforms. This company has over 400,000 customers.
Earlier, Bird told Financial News that his company has much to give to shareholders. The growth will ensure that every shareholder gets rewarded with fantastic buybacks.