We are big fans of GMG, but its correlation to AI/data centres is high, and those markets are showing signs of topping out in the US, with Nvidia (NVDA) already having corrected 16% from its June high. This is a story/thought process similar to that outlined with XRO.
- We had been targeting the $40 area for GMG, but overseas markets are implying that $36 might hold the advance. We are now considering reducing our position—MM is long GMG in our Active Growth Portfolio.
MM is long but cautious towards GMG short term
Add To Hit List
