MP1 has plunged 27.8% so far in 2022 following a disappointing quarterly update from the interconnection service provider plus of course the overall negative sentiment in the Tech Sector. As subscribers know we believe 2022 will be a year where quality floats to the top and high valuation stocks will need to deliver on growth to justify valuations i.e. the market is becoming far less tolerant around failed growth promises – only meets and / or beats will do to avoid being re-rated.
We aren’t keen to buy the recent sell-off in MP1 and we think stocks that fail to live up to expectations will generally underperform for longer. i.e. we prefer to buy stocks that are delivering inline with expectations that are being dragged down by negative market sentiment, as opposed to stock specific issues.
MM is neutral MP1
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