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Current thoughts on Audinate (AD8) please

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    Current thoughts on Audinate (AD8) please

    Hi James and Team Audinate has reached a high of $23.51 on 15th March and is trading below $20 today ($19.92). Your last note on AD8 that I could find was on 22/3/24. "We continue to believe AD8 is a great growth story. We can see further consolidation by AD8 in the $20-25 area, but this is a stock that we like to buy into dips. - our optimum entry level is ~$20" Does your view on AD8 remain the same - Is this dip below $20 the opportunity to buy? or has your optimum entry level changed? Are MMatters considering adding to AD8? regards Debbie

    Answer

    Hi Debbie,

    Audinate has been sold off in the last few weeks for a few reasons. It was added into the ASX200 in mid-March with a strong run up to all time highs around that time largely attributed by the demand for stock coming from reweighting by index funds. The addition into the index also comes with an increase of available stock for short sellers to borrow with the short position climbing over 1% of shares on issues explaining some of the weakness, while profit taking was also likely in play.

    We continue to back the long term story for AD8 with exceptional execution in recent results supporting our view. We are looking at options to increase the position into the weakness, however, this will largely rely on our view moving more bullish on the tech sector.

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    Audinate (AD8)
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