Software solutions provider WTC has fallen 26.3% as profit taking appeared to wash through the stock as the tech sector encountered relentless selling. The company hasn’t delivered any negative news but it trades on a very high valuation which is like a swear word in today’s new bond yield environment. We like WTC into weakness, especially around the $40 area, but we wouldn’t be chasing strength at this stage of the cycle.
MM likes WTC around $40 as an aggressive trade only
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