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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Buy Hold Sell: The best and worst performers of FY25
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Wednesday 2nd July – Dow +400pts, SPI up +18pts
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