ALU has been on a volatile journey in 2021 after enjoying a takeover bid from Autodesk (ADSK US) which was rumoured to reach $40 but the board had no interest and the US suitor walked. The recovery in the share price currently supports the board’s decision as the printed circuit board (PCB) design software provider trades well above pre-bid levels. Although it’s been a frustrating few months at times we still see the stock well above $40 into 2022, whether via another bid or under its own steam.
MM remains long and bullish ALU
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