Tim Murray in his recent ****** interview gave some reasons why he targeted NEA.
1. NEA is held mainly by retail investors with the large funds avoiding it
That is correct. I did a check and found Ross Norgard is the only investor with more than 5% On the other hand the instos were happy to partake in the last CR at $2.77 so where are those shares held? Presumably they are held in a wide spread of funds (eg tech Index funds) all of which hold less 5% individually.
2. The shorters 'funding' JCap are overseas based presumably in the US.
I remember the shorters only moved on NEA after it took off and spiked overseas interest.
The only serious weakness I could find highlighted by serious commentators (ignoring Tim Murray's claims that appear spurious to me at least) is the fact that NEA is not predicted to be earnings positive till the end of FY23. The issue as I see it is should NEA focus on an earlier start to positive earnings or concentrate on growing the NA business?
What do others think?
NEA Price at posting:
$2.64 Sentiment: Buy Disclosure: Held
