Earlier this month we took a small position in NXT, hoping to increase it if/when we see further weakness – Alert. This week’s news from HMC saw NXT used as a funding vehicle and the stock slipped 3.9% as a result. Importantly, we regard this as an opportunity as opposed to concern and in typical “plan your trade & trade your plan” fashion we expect/hope to be increasing our position below $16. NXT themselves raised $750mmn in early September to accelerate its foray into Asia, the raise was executed above $17 hence one of the reasons we see deep seated value in NXT below $16.
- We plan to increase our exposure to NXT below $16 —MM holds NXT in its Active Growth Portfolio.
MM plans to increase our NXT position <$16
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