MP1 has looked after us since we went long only 3 weeks ago but its volatile stock which regularly swings ~10% intra-week hence our relatively small 3% position. It also releases a quarterly update this morning that could be a big swing factor. However, for all its bluster the stocks been in the same trading range for a few months and we need to see a close clear of $9 to believe the stocks set to commence a meaningful rally – the reaction to their quarterly result out this morning is likely to have a meaningful impact.
- We remain bullish MP1 targeting ~$12, or 40% higher.
MM remains long and bullish MP1
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