Q: Hi, Would you have any thoughts on how HPS.a stock traded today, touching an all time high of $96.75 at the open and then reverse course to close 5% down from previous day's close, with momentum on the downside, for most part of the day ? This, of course, followed stock price going up almost everyday in a straight line for past couple of months.
Does it indicate a near term term Top in the stock ( at least between now and the results in early March ) ? Also, do you think, it could simply be profit taking after an incredible 300% run over past 12 months, and there has been no adverse or material change, specific to the company and the industry ( demand related to transformers/electrification/grids , competition etc). Noted that company weight was bumped up to 3%, in your model Portfolio, last week, so 5i, likely has strong conviction in Hammond Power and comfort at current levels. Thank You
Does it indicate a near term term Top in the stock ( at least between now and the results in early March ) ? Also, do you think, it could simply be profit taking after an incredible 300% run over past 12 months, and there has been no adverse or material change, specific to the company and the industry ( demand related to transformers/electrification/grids , competition etc). Noted that company weight was bumped up to 3%, in your model Portfolio, last week, so 5i, likely has strong conviction in Hammond Power and comfort at current levels. Thank You
