MM took a pretty controversial position in CWN last November which certainly didn’t sit well with all of our subscribers. We were simply looking for a potential takeover of the company with little downside as it felt like it had reached the nadir of its bad news. This has played out perfectly and we are sitting on a ~30% paper profit, todays scenario is interesting – we see $1 upside but $2 downside but the upside feels more likely arguably a coin toss which is not really that exciting.
MM is considering taking profit selling our CWN position
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