I’m changing sentiment to hold mainly due to the fact that a scalable business is increasing spending at a faster rate than revenue growth. Although we are getting net flows of $240M it was consistently better for many previous quarters. I’m finding these claims from the CEO of investment for growth to be way off the mark. That target of $20-25B is a bit of a joke. Only MA activity might get them there. If they stick to continually spending heavily to get this target then it’s a red flag!
Add to My Watchlist
What is My Watchlist?
