GMG / NXT have been discussed several times in recent months as a local way to garner exposure to the AI/data storage boom, and even after slipping in recent weeks, they are up 32% and 21%, respectively. The fizz has come out of the AI trade over the last couple of months, but at MM, we believe it’s a real phenomenon, and selecting the right exposure at the right price is key. After Greg Goodman cautioned investors for getting too exuberant around the space, we believe there is a good chance that GMG will retest levels last seen in April.
- We are looking to start accumulating GMG if/when it retests the $30 area.
MM is bullish towards GMG medium-term
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