Early this morning, MP1 released its quarterly revenue report. I could go on about the number released and how they look reasonable but not great. But the only thing that matters is the market’s reaction to the numbers.
The market’s reaction has been to send the share price lower. Not helping matters was the sharp fall overnight in US markets, with technology growth shares taking the brunt of the fall.
The fall in the share price has reached the stop loss level of $15.50, and we have now sold the position.
MP1 is still a company, in our opinion, that is is in part of the market with excellent long-term growth potential and one we will watch closely going forwards, looking for an opportunity to re-enter in the future. But for now, we are out.
Closed position result
Number of shares: 525
Entry Price: $18.75
Exit Price : $15.50
Loss is $ : $1,706.25