Yesterday’s top performer was A2M which soared over 13% following an announcement from Bubs Australia (BUB) whose first quarter result was well ahead of expectations aided by sales across the Chinese Daigou channel improving i.e. a potentially great read through for A2M. We touched on the NZ based companies rally in the “Match out Report” yesterday but there are another 2 points worth making:
- A2M is carrying a 5.7% short position which was probably feeling very comfortable before yesterday’s news, if these traders decide to cover on mass into the good news the ultimate rally could make yesterday’s move look tame.
- MM’s initial target is a break of $7.50, or 30% higher i.e. still great risk / reward at current levels in our opinion.
MM remains long and bullish A2M
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