Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM Team, Regarding Z1P, are you looking for a price point to buy more in the emerging companies portfolio? Could it be a target for a takeover given the massive dive in recent months? Or do you feel there is too much risk in this market? MFG: is there a price point that represents deep value that MM would consider buying? Thanks and kind regards, Rowan
Hi Rowan,
Two very different stocks hence I’ve split the answers:
Zip Co (Z1P) – I remain a frustrated holder who is not considering averaging, I’m very glad MM closed our position in our Growth Portfolio and reduced in the Emerging Companies one. To answer one part of your question it might be a takeover target but that alone is not a reason to chase the stock. Upside momentum would need to come into it in a sustained way for us to change this opinion.
Magellan (MFG) – we like MFG as an aggressive play, which is supported by an excellent yield, at this stage our ideal entry is a dip under $19 – history tells us that picking bottoms is a dangerous game and we wouldn’t be throwing the kitchen sink at this struggling fund manager.
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