Montauk Renewables (MNTK) has closed below our sell-stop of “around 16.50” two consecutive days, and we’re recommending selling the position today. Wednesday’s trading suggests we could see a bounce higher today which should enable us to exit basically break even. There’s no clear reason for MNTK’s drop – peer alternative fuel stocks have been largely stable this week – but always, we seek to adhere to the stops we placed since the sell-off suggests further volatility ahead.
Please let me know if you have any questions or comments. You can reach me at brendan@cabotwealth.com. Our regular update comes to your inbox Wednesday.