Market Wrap - Stock Pick — Bid Corp
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Martin Smith from Anchor Securities chose Bid Corp as his stock pick of the day.
"Post the sell-off on Tuesday, obviously given the MSCI re-weighting - we took a position in quite a lot of SA Inc shares, especially before the Cabinet announcement which had the desired effect today as we saw. But one that I'm fundamentally quite positive on is Bid Corp. I think it's looking like relatively good value, a lot of optionality on the balance sheet, good management team, good structural growth story coming through and I think it's a nice defensive play. Something which I'm personally doing in my portfolios is looking towards more a defensive stance, obviously given the macro backdrop and talks of US recessions and things like that so yes I'm looking for more defensive at the moment and Bid Corp suits that."
"Post the sell-off on Tuesday, obviously given the MSCI re-weighting - we took a position in quite a lot of SA Inc shares, especially before the Cabinet announcement which had the desired effect today as we saw. But one that I'm fundamentally quite positive on is Bid Corp. I think it's looking like relatively good value, a lot of optionality on the balance sheet, good management team, good structural growth story coming through and I think it's a nice defensive play. Something which I'm personally doing in my portfolios is looking towards more a defensive stance, obviously given the macro backdrop and talks of US recessions and things like that so yes I'm looking for more defensive at the moment and Bid Corp suits that."
