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Megaport (MP1) $10.01

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.

MM has no interest in MP1
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Megaport (MP1)
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