Shares in NXL were clobbered after their recent trading update at their AGM. While they reiterated their FY25 outlook for all key targets, the market focused on the comment that “sales are not linear over the course of the year, and our current expectations are that growth will be weighted towards the second half of the fiscal year.” As we said at the time, we felt the move was overcooked and more attributable to the stock’s steep appreciation in 2024, but if the market continues to correct, high-beta stocks like NXL will likely be hit more.
- We are conscious that NXL has had a great run in 2024, however, the business performance has justified it. We like NXL into further weakness.
MM likes under $5.50
Add To Hit List
