Q: Hi 5i,
A predictive question; I tax loss sold MG @ end of 2023 and should be qualified to re-buy. Would you wait for earnings Feb 9 before buying back the position? Put another way do you expect any issues with the up coming earnings for MG?
A predictive question; I tax loss sold MG @ end of 2023 and should be qualified to re-buy. Would you wait for earnings Feb 9 before buying back the position? Put another way do you expect any issues with the up coming earnings for MG?
5i Research Answer:
MGhas beaten expectations in five of the past eight quarters. At 10X earnings today, we would consider expectations fairly low for this quarter. The stock moves an average +/- 4% on earnings announcements. We don't really expect any issues, but the company tends to be conservative with guidance. Still, it will go ex-dividend soon (46c, no set date yet) and we would be fine buying.