Wine company TWE has struggled over recent weeks as the company downgraded their FY23 guidance due to demand for luxury wine softening in the US. Importantly, we don’t believe that the share price is accurately reflecting the strong prospect of the Chinese market reopening hence we like the risk/reward into further weakness.
- We already hold a 4% position in TWE, we are looking to tweak this higher at lower levels.
MM is considering increasing our TWE exposure around the $11 area
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