Magnetic North Acquisition (TSXV:MNC) Momentum Rank : 0 (As of Jun. 25, 2024)

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What is Magnetic North Acquisition Momentum Rank?

Magnetic North Acquisition has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Magnetic North Acquisition (TSXV:MNC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Magnetic North Acquisition Corp (TSXV:MNC) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

BKBLF:USA MNC.PR.A.PFD:Canada

Address

1000, 250 - 2 Street SW, Calgary, AB, CAN, T2P 0C1

Website

https://www.magneticnac.com

Magnetic North Acquisition Corp operates as a merchant bank providing capital, management and board representation to small to mid-capitalization private companies. Its industry focus for investments include clean power technology, special situations, and consumer products, oilfield services, manufacturing and technology inclusive of software and hardware. The company is focused on creating shareholder value by providing strategic and financial advice and services to companies.

Magnetic North Acquisition (TSXV:MNC) Headlines

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