WATCH: Stock picks — Spotify and Imperial Oil
Bright Khumalo from Vestact and Drikus Combrinck from Capicraft talk to Business Day TV
Bright Khumalo from Vestact chose Spotify as his stock pick of the day and Drikus Combrinck from Capicraft chose Imperial Oil.
Khumalo said: “I’m going for music, everyone during bad times likes to listen to music and so I’m going for Spotify. They are getting to a point where they have spent over $600m on acquiring podcasts, production centres, good podcasts, entertainment the most recent being The Ringer by Bill Simmons who is a sports analyst.”
Combrinck said: “I’m buying Imperial Oil, it’s a Canadian sands business and is a subsidiary of ExxonMobil, so Imperial can hinge on a lot of Exxon’s technology.”
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