Market Wrap - Stock pick — Shoprite
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Nolwandle Mthombeni from Mergence Investment Managers chose Shoprite as her stock pick of the day.
"I am choosing Shoprite, if you look at the performance of Shoprite compared to the market, there's a complete lag. This is not in line with the fundamentals where Shoprite is one of the few stocks that have been able to continue to trade since the lockdown started. The last time we received data from Shoprite was in February so the next phase will show they've done much better than the market in the last few months."
"I am choosing Shoprite, if you look at the performance of Shoprite compared to the market, there's a complete lag. This is not in line with the fundamentals where Shoprite is one of the few stocks that have been able to continue to trade since the lockdown started. The last time we received data from Shoprite was in February so the next phase will show they've done much better than the market in the last few months."
