XRO is the best-performing major local tech stock having rallied over 50% in 2023 alone, it may not have scaled new highs like Apple but it has performed strongly from both a fundamental and share price perspectives.
- We reduced our XRO exposure from 5% to 3% into the rally in May ~$110 affording us the flexibility to withstand pullbacks without becoming too concerned.
- This position is likely to be volatile over the coming weeks after such a strong advance but we remain bullish medium term.
MM is long and bullish toward XRO
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