IRDM - We Are Buying The Maxar Dip

• MAXR delivered unspectacular earnings on Monday after the close. In and of themselves, just a little dull, not terrible.
• The earnings call, however, was a lesson in how to not handle weak earnings. And so the selloff began in earnest.
• 24 hours after earnings, the stock was down 25%. Remarkable.
• This, we believe, is a dip to be bought. Not because the company is beyond criticism, far from it, but the contrary - because the pressure to deliver for investors is now heaped on the company.
• We bought in staff accounts during Tuesday and expect to continue to do so on any prolonged weakness. We rate Maxar at Buy.

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