HUB rallied over 2% yesterday during a weak session for the ASX, the strong performance by the fintech platform provider came after it announced it had achieved net inflows of $6.7bn for the 2nd half of 2020. The great result equates to a 10.9% lift in FUA while at the same time its market share rose from 4.3% to 4.6% as the company continues to deliver. The excellent quarterly was over $1bn ahead of expectations by some analysts for the 3-months but we must remain cognisant that while this is a strong business with matching momentum it’s not all been one way traffic i.e. HUB has corrected around 30%, or more, 3 times over the last 3-years – not that unusual for a high growth / valuation business.
At this stage this is one growth stock which we would want new highs above $35 before we considered selling the pop.
MM remains bullish and long HUB
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