Maybe. Maybe not. MAQ had appreciated by over 62% from the beginning of this calendar year. On the 7th August, MAQ shot up over 7% on 4x the average liquidity, crossing well above the consensus target. This followed its revised profits guidance. It has been retreating since, as one would expect. It appeared to stabilize by the 14th but yesterday depreciation accelerated. I was just wondering if anyone had heard anything that could explain the acceleration. The question remains whether the correction will merely take the price down to consensus or whether it is signalling a reversal. Understanding the reasons behind the move should help the management of the trade. In the absence of any news or grading by analysts, my assessment remains that the correction reflects profit taking especially given that both sector and industry have been outperforming the market while MAQ has been outperforming its peers. Its PEG is way below average as is the EPSG. On the negative side, the industry is beginning to show signs of weakening and the sector is overbought though still rising. The forecasted EPSG is about average with the forecasted PEG way above average.
MAQ Price at posting:
$23.39 Sentiment: Hold Disclosure: Held
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