Hi Ian,
Altium (ALU) $28.01 – no change here, we are bullish short-term initially looking for $30, now less than 10% away but we could see it a touch higher in-line with our recovery view on growth stocks in general.
Magnis Energy (MNS) 32c – a junior $314mn power storage solutions company, who operates through two segments: lithium-ion battery investments, and graphite exploration and development. At this stage of the EV cycle we would prefer to stay with tried and tested names like IGO, although we will inevitably miss some great moves we are less likely to be exposed to some tales of woe.
Imugene (IMU) 16.5c – this biotech is down well over 70% this year which is not uncommon for these types of stocks that are developing ground breaking cancer treatment, although even after the decline it is still a $1bn company with no real revenue (~$7m in FY21), and therein lies the problem in this sort of environment where raising capital will be harder than it was when liquidity was high and money cheap. That said, if what they are doing works the company will be worth multiples of where it is trading today, there just might be some more pain first!
