This is the most recent portfolio addition following a near 30% pullback in the share price after the departure of the long standing CEO Darryl Abotomey, sooner and under a larger cloud than what had been originally planned. That presents an opportunity in MM’s view to pick up a quality stock hit by an announcement that may actually prove to be a medium term positive for BAP. We like this aftermarket car parts business below $7.
MM is bullish and a happy buyer of BAP <$7.00
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