GMG rallied another +1.4% on Thursday, posting new all-time highs. Interestingly, NEXTDC (NXT), which has advanced in sync with GMG on the future outlook for data centres, retreated -4.6%, taking its lead from US tech. We were comfortable tweaking our GMG position, but there’s no need to fight this strong bull trend any further just yet.
- This advance illustrates why MM only reduced our GMG position this week from 4% to 3% – MM is long GMG in our Active Growth Portfolio.
MM is long and bullish GMG
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