ABB was slammed in March after losing its white-label deal with Origin Energy to Superloop — ABB was looking to buy Superloop prior to losing the contract, perhaps they should have been more aggressive. ABB hasn’t really recovered since the news despite maintaining near-term guidance. Fortunately, we trimmed our position a few weeks earlier above $4.60, but a 30% drop still hurts portfolio performance. A good example is that even if you love a stock, it’s often prudent portfolio management to trim a position if it has surged higher.
- We remain bullish on ABB, although a dip towards $3.20 wouldn’t surprise us—MM is long ABB in our Emerging Companies Portfolio.
MM is long and bullish on ABB
Add To Hit List
