MP1 rallied +3.6% yesterday in line with a bounce by tech stocks even as bond yields rallied which suggests to MM that investors believe value has returned to the sector even as interest rates look likely to be higher for longer.
- We like MP1 around current levels targeting a strong recovery into Christmas – we note this a high beta relatively aggressive way of playing our view towards growth stocks.
MM is bullish MP1 targeting a break back above $10 into Christmas
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