NXT’s most recent capital raise was $750mn last September at $17.15; the stock has been under pressure in the last few months courtesy of capital raises by HMC and GMG, which would have led to some selling of NXT to fund purchases. It is frustrating, but we remain committed to the AI and data centre bullish outlook; hence, we have held our position, although we bought into the retracement too early in hindsight.
- We are more likely to add to our GMG position during AI sector weakness—MM holds NXT in our Active Growth Portfolio.
MM is long and bullish NXT
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