HMC also failed to add to its initial small gain on Monday as the AI-skewed business was firm but not chased higher. MM liked the company’s strong headline and underlying 1H25 results, with the full-year earnings upgrade a nice bonus. Unfortunately, the following day saw GMG’s capital raise, which led to selling wash through HMC as it was used as a funding vehicle for fellow new data centre company, i.e. HMC Capital launched the DigiCo Infrastructure Real Estate Investment Trust (DGT) in November 2024, successfully raising ~$4.2 billion, with HMC Capital retaining an 18% stake in DGT whose portfolio already includes 13 data centres.
- We would be keen to add to our HMC if it spiked down towards $8 – MM holds HMC in its Emerging Companies Portfolio.
MM is long and bullish HMC
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