Does MM believe EML is a buy?
With the rapid increase in the EML shareprice post reporting , and understanding you have this stock already in the portfolio do you at this time consider EML as a buy? thanks Andrew
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Answer
Hi Andrew,
While this is a very high risk stock, we do think it is a buy on consolidation around $1. There would have been some short covering post results exacerbating the rally, however ultimately the business is turning around and the market underestimated the momentum from both a top line revenue growth perspective and from a cost perspective . While this has been a poor pick of ours in the Emerging Companies Portfolio given we bought it at higher levels, we do like the risk /reward here.
