The APX share price was savaged yesterday after their result was a miss and management confirmed low visibility on near term earnings, although they offset that by putting big longer term targets out to the market, considering their ability to forecast earnings over the last few years that doesn’t bring with it any confidence and even if they prove correct it’s going to require some concrete numbers to regain investors’ confidence. MM got this one very wrong and our only solace is we took a small position and only entered after the stock had already plunged over $30 (orange line on chart) – we’re sorry to any subscribers who joined us on the painful journey, while its part of investing its never fun to be so emphatically on the wrong side of a stock.
MM is now neutral APX, at best
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