Thoughts on NXL

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Question asked 02/02/2021

Thoughts on NXL

“Hi James and Team. Thanks for your ongoing commentary on the market and your views on the year ahead. Have you a view on NXL - this is a recent listing and I am a holder but it has pulled back quite a bit and I am looking to top up. General advice only” - Thanks & Cheers David P.

Answer

Morning David,

Nuix Ltd (NXL) is a newly listed technology company which was 66% owned by Macquarie Group, they will now reduce its stake to 30%– currently down under 64%. This investigative and software business sounds exciting and the market clearly agrees considering its extremely successful listing – the paper profit for investors lucky enough to receive stock in the IPO is ~50%. While there’s a big seller in the market I would be reticent to be an aggressive buyer but as their holding reduces it would might provide an ideal entry opportunity into weakness.

NXL

MM likes NXL but it’s hard to define an ideal entry level

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Nuix Ltd (NXL)

LAST UPDATED 02/02/2021 15:10

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