Network connectivity business MP1 rallied strongly in late July following their ‘less bad’ 4th quarter update which displayed a +10% lift in revenue plus the company posted a positive EBITDA for the first time as monthly reoccurring revenue (MRR) grew by $1.2mn – overall far better than downbeat expectations although we shouldn’t lose sight of the stocks painful 80% fall from its 2021 high.
- The stocks recovery is already stalling and we are now neutral i.e. similar to our overall market view.
MM likes MP1 into another test on the downside
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