Does MM like Nanosonics (NAN) after its pull back?

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Question asked 08/04/2022

Does MM like Nanosonics (NAN) after its pull back?

Hi, With the recent change in Nanosonic trade arrangement in US and leading share price depression (assuming stronger AUD has also a part to play) what are MM thoughts?

Answer

Hi Nilang,

NAN has underperformed the local growth sector falling 50% from its August 2021 high – its not just bond yields and a rising $A investors that has seen life science company tossed firmly into the “naughty corner”. The stocks still trading a massive valuation which has probably contributed to it becoming the 3rd most shorted stock on the main board with 12% of the stock short sold, history tells us that fighting these professional shorters is a very dangerous game.

MM has no interest in this infection prevention stock following its risky change to its sales model in the US which may have been forced but certainly isn’t popular.

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Nanosonics (NAN)

LAST UPDATED 08/04/2022 16:31

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