Every dog has its day is not always true in the stock market, but it has been the case with MP1 for investors fortunate enough to have timed their entry well – the stock was at $22 back in 2021. The network connectivity business has delivered in 2024 with an upgrade and excellent earnings report in January, which showed the impressive combination of an increasing number of new customers, strong revenue and lower costs. We classified MP1 as a recovery stock although it could easily have been included in the AI group with a key data centre client win aiding market sentiment.
- We like MP1 from a technical perspective into its current pullback into support below $13, but it’s not on our menu.
MM is bullish on MP1
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