NIC was the worst performer on the ASX200 yesterday plunging over 12% following a 3rd quarter update – sales down 10% while earnings (EBITDA) fell almost 30% justifying the bad session in our opinion. We like the nickel space as demand is set to rally as EV sales increase and although a pullback from recent 6-year highs wouldn’t surprise we become more interested at lower levels. We are in no hurry to start accumulating this new addition to the ASX200 but its definitely jumped firmly onto our watch list.
MM likes NIC into further weakness under $1
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