Consumer stocks plunge as tough times bite
Analyst David Shapiro blames structural decay brought about by 30 years of bad government
01 June 2023 - 23:56
Fund managers are struggling to recall a week as bad as this one on the JSE in which consumer-facing stocks such as Spar and Tiger Brands plunged after detailing the effects of a worsening economy and increasingly cash-strapped consumers on their bottom line.
Stocks have fallen rapidly many times before, including during the global financial crisis in 2008, the Covid-19 pandemic and in response to apartheid sanctions...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.