Nickel and lithium producer IGO has now corrected almost 20% from its November high but we’re still not tempted to increase our 3% position, short term we remain more a seller of strength than a buyer of weakness. While we are major fans of this business and its strategic direction moving forward the stocks already corrected 54% and 40% at points in the last few years, so why not again?
- We cannot discount a pullback towards $10 in this volatile space hence the risk/reward doesn’t excite us back around $14.
MM is long and mildly bullish IGO around $14
Add To Hit List
