REA has advanced +17% so far this year but it’s been struggling around $140 with interest rates weighing on both tech and real estate stocks, a double whammy for REA. As we look to reduce our overweight tech exposure even further REA is on the chopping block to afford us the flexibility to choose an alternative tech exposure into any decent pullbacks e.g. high fliers Technology One (TNE) or Wisetech Global (WTC).
- We reduced our REA position from 5% to 3% above $140 and are now considering the balance as the stock underperforms.
MM is considering cutting our REA position
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