MP1 -21.55%: a very disappointing 3rd quarter update from the network connections business today which is struggling for growth. Monthly Recurring Revenue (MRR) was up just 3% on the previous quarter to $9.5m. Though this was hampered by FX headwinds, the annualized rate of $114m leaves them on a very expensive ~15x sales multiple. Shares closed on the day’s low, sending them back to a 2 year low.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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