Yesterday saw RHC fall over 4% following a disappointing 3rd quarter trading update as the business works through the new post COVID landscape. France is having a material impact on RHC after the government started to restrict elective surgery in March but assuming the vaccine rollout across Europe is successful this should have a relatively short-term impact on the bottom line. If the sell-off continues towards $60 we will be looking to add to our 4% holding.
MM is considering increasing our RHC position
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