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Patient Capital Adds to QXO After 61% Drop From Highs
The strategy raised its QXO position by more than 70% since Q2 and says it may keep adding if the price stays in range.
Key takeaways
- Patient Opportunity Equity Strategy increased its QXO common equity position by more than 70% since Q2.
- The strategy said it may continue adding if QXO’s share price remains in range.
Patient Opportunity Equity Strategy said it increased its QXO common equity position by more than 70% since the end of Q2. The investment strategy said it may keep adding if the share price remains in its current range.
In its third-quarter investor letter, the strategy described QXO shares as down 61% from their highs earlier this year. It attributed the decline to a selloff in building products stocks as interest rates rose.
QXO traded at $10.49 on Monday afternoon, down 2.96% since the previous close.
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This article was produced with the help of AI technology. Source: Yahoo Finance
