Market Wrap - Stock Pick — Brait

Robert Cameron from Thebe Stockbroking chose Brait as his stock pick of the day. "So my stock pick today is Brait, the stock has been under the hammer, in 2016 it was as high as R160 and at the moment it is about R17,50. We are looking at a net asset value of R41,80. Why like this is because when you look at that chart it's starting to look constructive so it's trading above the 50-day moving average and inching towards the 200 moving average. And then also one of the major shareholders Christo Wiese, not sure with what vehicle, but they are trying to restructure the company in terms of management and also selling off non-core assets, and it kind of looks like something is stirring that side. So I think maybe can can get them and look at a 40/50 percents upside in the next maybe two years or so."