TNE retreated 2.9% on Monday, not a major drop but the stock has shown little interest in extending its gains since posting a fresh high in June. The stock had already surged over 30% in 2025 before yesterdays move and we feel this is another of the market favourites experiencing some profit taking. Note, its nothing to worry about in the bigger picture, but it may be a laggard over the coming months.
- We can see TNE treading water around $39 ahead of its next FY25 earnings update in November.
MM is neutral towards TNE around $39
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