Alerts
Spinoff Report
SNX: Booking +36% Profit on Pre-Spin Rally
We entered Synnex Corp. (SNX) on the back of insider buying and ahead of its upcoming Spinoff (expected Q4 2020) at the $87 level at the beginning of May 2020. Since then, following a strong earnings beat and a significant rally in a short two months, we are booking our pre-Spin profits of +36% in SNX, with a view to revisit the name once further clarity on the Spinoff is disclosed by the company.

  • Investors Recommended to Book Profits Following Strong Rally / Limited Base Case Upside
  • SNX has Given a +36% Return Since May 1, 2020 Entry Vs. S&P 500 Index's +8% Return
  • Strong Q2FY20 Earnings Beat Expectations / $400m Share Repurchase Program Announced
  • Spinoff on Track for Q4 2020 Completion / Full Analysis to be Released Closer to Break-Up
  • SNX Exits the Model Portfolio at the End of Today's (July 2) VWAP
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