Market Wrap - Stock pick — Reinet
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Waldo du Plessis from Nitrogen Fund Managers chose Reinet as his stock pick of the day.
"My stock pick tonight is Reinet, it is a holding company and has two massive assets being British American Tobacco and then Pension Corp in the UK. Reinet a rand hedge and the rand has run quite hard, I think it may go even further depending on the massive global interest, maybe the dollar will weaken further but for the long run British American Tobacco is rather cheap, Pension Corp is fairly valued and Reinet is trading at a hefty discount as a rand hedge that looks attractive."
"My stock pick tonight is Reinet, it is a holding company and has two massive assets being British American Tobacco and then Pension Corp in the UK. Reinet a rand hedge and the rand has run quite hard, I think it may go even further depending on the massive global interest, maybe the dollar will weaken further but for the long run British American Tobacco is rather cheap, Pension Corp is fairly valued and Reinet is trading at a hefty discount as a rand hedge that looks attractive."
