Market Wrap - Stock pick — Naspers
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Waldo du Plessis from Nitrogen Fund Managers chose Naspers as his stock pick of the day.
"I'm going to go with Naspers, Tencent results were out this week which were a resounding beat on market expectations, but Tencent has this overhang of this executive order that Trump has signed in which will ban transactions with Wechat and that could flow out into Tencent's expansion plans. The reason I still go for Naspers is because it is trading at a heavy discount, probably its widest discount ever to Tencent and that is just offering compelling value in this market."
"I'm going to go with Naspers, Tencent results were out this week which were a resounding beat on market expectations, but Tencent has this overhang of this executive order that Trump has signed in which will ban transactions with Wechat and that could flow out into Tencent's expansion plans. The reason I still go for Naspers is because it is trading at a heavy discount, probably its widest discount ever to Tencent and that is just offering compelling value in this market."
