MM view on IMU, ASM & CBA

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Question asked 05/02/2022

MM view on IMU, ASM & CBA

Hi James, Thanks for your insights. I am curious about the turnaround for IMU. Is it related to the failure of a Director to be re-elected? Also ASM has fallen substantially from lofty heights. Does it look as if it might find support at current levels. Last question Why has CBA been hit when inflation looks to be headed higher? Won't this assist margins going forward? Thanks for your guidance. Peter

Answer

Hi Peter,

A few questions here hence our brief answer to each:

Imugene Ltd (IMU) $30.75c : I can see significant turnaround here with the stock still down 50% from its November high, the stocks on technical support buts a coin toss in our opinion. We have looked at this one for our Emerging Companies Portfolio, and I know Harry owns a few shares in it, however it’s volatility is extremely high.
Australian Strategic Materials (ASM) $8.25 : if I was to “punt” on the next 10% for ASM it would be up but that’s no big deal considering its fallen by over 40% in the last 2-months, MM has no real view on this specialty metals company i.e. we are neutral.
Commonwealth Bank (CBA) $$93.57 : the only bank to be up in 2022 is UK based Virgin Money (VUK) and although CBA has been the weakest of the bunch that’s probably because its the most expensive and it doesn’t trade ex-dividend until August compared to its peers who reward loyal shareholders in April.

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Imugene (IMU)

LAST UPDATED 04/02/2022 16:27

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