Market Wrap - Stock Picks — Amazon and cash
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Martin Smith from Anchor Securities chose Amazon.com as his stock pick of the day and Robert Towell from Sasfin Securities chose to stay in cash
Smith said: "On the back of the news out of the USA with regards to all the anti-trust issues we saw the "FANGS" take a bit of a knock. I use that as an opportunity to top us on a few shares there and I think Amazon is the pick of the bunch though."
Towell said: "I also like the FANGS, I think they were sold off quite aggressively but I think you can still wait and I think there is still a lot of noise coming through around the regulations in these big IT companies. I would rather stay in cash for the next week or so to see how the trade war pans out and how Trump finishes off in England."
Smith said: "On the back of the news out of the USA with regards to all the anti-trust issues we saw the "FANGS" take a bit of a knock. I use that as an opportunity to top us on a few shares there and I think Amazon is the pick of the bunch though."
Towell said: "I also like the FANGS, I think they were sold off quite aggressively but I think you can still wait and I think there is still a lot of noise coming through around the regulations in these big IT companies. I would rather stay in cash for the next week or so to see how the trade war pans out and how Trump finishes off in England."
