SEK has bounced almost 25% from its late June low and it would be easy to grab a quick profit after being under water for a few months but we’re only holding a 3% position after a larger successful foray into the online recruitment stock earlier in the year, hence we intend to hold our position into next week’s result (15th). In our view the market continues to under-appreciate the companies’ ability for dynamic pricing to deliver incremental revenue over the longer term hence the stock remains relatively depressed on lower job listings.
- Our view hasn’t changed since we bought SEK – “We believe SEK is poised to initially test $27, and potentially $30 over the coming months.”
MM is long and bullish toward SEK
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