Picture: 123RF/bluebay
Picture: 123RF/bluebay

Bright Khumalo from Vestact chose Beyond Meat as his stock pick of the day and Chantal Marx from FNB Wealth & Investments chose Coronation Fund Managers.

Khumalo said: “I’m going short on Beyond Meat. I think the stock is overrun. Beyond Meat make a Beyond Burger from wheat-based material and all sorts of plants. Their argument is that basically that their market is not people who are vegetarians or the likes but rather people who want to eat less meat. There’s nothing wrong with the product, I think the problem is just the evaluation, it’s beyond and unfortunately and at some point it’s going to come down and it’s going to unwind to realistic expectations.”

Marx said: “I would be a buyer of Coronation Fund Managers at these levels. Even though there is an expectation that volatility in equity markets is likely to persist, the reality is again everything has its price and, from a valuation perspective, the stock really looks compelling at the moment.”

Bright Khumalo from Vestact and Chantal Marx from FNB Wealth & Investments talk to Business Day TV

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