LTR has certainly read the MM playbook for 2022:
- In late March when LTR was trading at $1.86 we wrote “the stock has enjoyed a great 12-months and we feel its sheer momentum will take it over $2 in the coming weeks – now not a big deal it’s only 7% away!”.
- Earlier this week we wrote “The base metal miner has now indeed popped through $2 as expected taking us to a more neutral stance however there are definitely zero sell signals at present but we wouldn’t be surprised to see the stock back under $2 in the next 1-2 months.”
Bang, a few days later the stock has already fallen 20% from its weekly high! A great example of both “selling the pop” and market moves infolding far quicker this year than most of us seasoned investors are used to.
MM is bearish LTR looking for sub $1.50 levels
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