WATCH: Stock picks — Alibaba and Prosus
David Shapiro from Sasfin Securities and Wayne McCurrie from FNB Wealth & Investments talk to Business Day TV
Shapiro said: “The sell-off that we’ve seen in Alibaba, which was almost a 10% sell-off, and considering where they are going with the turnaround that we’re seeing in Chinese companies, if Alibaba can keep selling as the numbers showed today, which was astronomical. I can imagine that it is going to present a cheap entry point.”
McCurrie said: “Chinese tech stocks has been a sharp sell-off for the past few days but they are still where they were for the past few months and haven’t lost three years worth of share price appreciation.... Though I’m going for Prosus, you can go for any of them at this sort of price.”
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