GMG was our best performer in FY24, and we took profits above $36 in August looking for $30 re-entry for better risk/reward. While it didn’t quiet make it back there, we think that patience will still be rewarded at some point. The stock looks rich ~$36 especially as the data centre hype may cool slightly with another alternative coming available to ASX investors.
Our stance over recent months hasn’t changed, we are fans of GMG and expect it to be back in our Active Growth Portfolio at some stage in the coming year, though the gap in timing between their push into data-centres and the financial benefits we’ll see, still feels big.
- We are reticent to chase strength GMG but like the quality stock closer to $30.
MM likes GMG ~$30
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