Q: Hi Team,
Any news on PNG today? Seems to be on a tear but I can't find anything on it. Seems like every time I feel like adding to the name it takes another big leap up. A good problem to have I suppose. Would you recommend waiting for a cool down before adding more to this name? Or maybe just let the position grow on it's own merit? Right now its a 2.6% weighting in my stock portfolio.
Thanks,
Shane.
Any news on PNG today? Seems to be on a tear but I can't find anything on it. Seems like every time I feel like adding to the name it takes another big leap up. A good problem to have I suppose. Would you recommend waiting for a cool down before adding more to this name? Or maybe just let the position grow on it's own merit? Right now its a 2.6% weighting in my stock portfolio.
Thanks,
Shane.
5i Research Answer:
We see no company news. Trump today did say that the US would be providing submarines to Austrailia, and this has likely provided some speculation of more orders. We can't comment on position sizes but if adding we would be comfortable letting this settle on 'no' real news.