Yesterday saw MP1 open unchanged before driving down another -13%, at this stage we’re comfortable having exited our position as 2 scenarios loom on the horizon and until there’s a degree of clarity it’s hard to see any meaningful upside for this volatile tech company:
- Either MP1 will run out of funds over the coming year (s) and be forced to raise capital, I’m sure this is what the current large short position is looking for.
- Or, the company delivers on its growth goals and doesn’t need to raise which should ultimately be very bullish the share price.
However fresh news aside it’s likely to take 6-12 months to convince investors of the latter hence, for now, it’s another case of “if in doubt stay out”.
MM remains neutral MP1 at best
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