Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi, Shawn Correct me if I am wrong but I think MM said a short time ago that SEEK was a sell around $24.50 . SEEK recently passed the $24.50 mark and MM did not sell. Has MM taken a longer stance on SEEK ? Is MM expecting the SEEK price to reach a higher level than first expected ? Kind Regards, Chris Allchin
Hi Chris,
Seek (SEK) is definitely on our radar after it touched above $24.50 but its part of our Flagship Growth Portfolio which is already holding 12% in cash hence at this stage we are being a touch pedantic as we’re looking for outperformance from the tech related stocks over the coming weeks/months i.e. if SEK was a standalone holding we would indeed have looked to sell into its recent pop to fresh 5-month highs.
From a stock/sector perspective as we’ve alluded to over recent weeks we are looking for tech names to continue their bounce in line with the Nasdaq but we do intend to reduce our exposure into such a move.
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