MP1 is one of the shorts which keeps on giving to the traders having fallen another -22% already in 2023. This week we’ve seen the CEO Vincent English abruptly resign while the short position remains elevated at 9.4% although it is down from ~12% where it has been over recent months. Also, Chairman and Founder Bevan Slattery might continually lament the “shorters” but he’s been an active seller himself having sold ~$200mn worth of stock since 2018 including the last $6.15mn clip in October.
- We see no reason to catch this particular falling knife with alarm bells still ringing i.e. we want to hear some concrete reasons why the CEO departed.
MM has no interest in MP1
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