Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James & Team, LNW has continued to drop. Are you getting close to buying. It resides on your hitlist in the Emerging Co's portfolio. Also, your current view on FEX - Your last comment on 13/9 was "At this stage it will be tough to punch through the 45c". This week it hit a high of 52c. Was there a particular catalyst for the increase? regards Deb
Hi Debbie,
We still have LNW in our sights for our Emerging Companies Portfolio but while we remain cautious towards the market into October, which often delivers high levels of volatility, we remain happy to wait – the stocks coming to us, down ~28% from its 2025 high.
Even after its recent rally Fenix (FEX) is a still $370mn small cap, a little off-piste for MM hence we do largely revert to our macro views and technical analysis when looking at such stocks. Going into the weekend FEX is looking good, trading ~49c. It’s important to remember here that FEX is a “real” company that made $5.4mn NPAT in FY25 on revenue of $316mn.
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