Network connectivity business MP1 rallied strongly in late July following their 4th quarter update which showed revenue was up 10% on the 3rd quarter after they added 533 new ports and posted a positive EBITDA for the first time as monthly reoccurring revenue (MRR) grew by $1.2mn – all better than downbeat expectations although the move must be kept in the context of the huge decline in the stock.
- MP1 more than doubled from its late June low, we’re neutral at current levels but we now like this aggressive play if they can continue to improve operationally and re-build the market’s trust.
MM is neutral MP1 around $8
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