LTR has looked after our Emerging Companies Portfolio over the last year, but our August purchase at $1.19 is looking concerning after initially rallying more than 12%. Similar to our holding in PLS, we are now questioning if we still want to own LTR as the news flow goes from bad to worse.
- We can see LTR finding strong support around $1.00, but as a higher-cost producer, it is especially vulnerable to a deeper correction by Li. MM holds LTR in the Emerging Companies Portfolio.
MM is neutral towards LTR around $1.00
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