Business
Top broker urging investors to take profit now on this outperforming ASX share
The Hub24 Ltd (ASX: HUB) share price is zooming higher but this could be the perfect time to lock in profits, according to JPMorgan.
The Hub24 share price surged 5% to $21.80 in the last hour of trade and has increased by three-fold over the past year.
But JPMorgan thinks now is the time to sell the shares as it downgraded Hub24 to “underweight” (equivalent to a “sell”).
Margin squeeze triggers downgrade for Hub24
The downgrade comes after Hub24’s rival, the Netwealth Group Ltd (ASX: NWL) share price, said its deposit agreement with the Australia and New Zealand Banking GrpLtd (ASX: ANZ) was terminated.
The agreement…
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