Can Purple Group’s wild ride continue?
If you’d invested R10,000 in Purple Group in 2019, it would be worth R94,444 today. In large part, that success is due to retail investor platform EasyEquities, the jewel in Purple’s crown. But how sustainable is this growth?
Christmas is a time of giving — from the heart and in the form of gifts. And the past festive season brought jubilation for investors in Purple Group, a small-cap stock operating in SA’s financial services industry.
Within three weeks, between December 21 and January 14, Purple’s share price rocketed 59%, from R2.17 to R3.45. It meant that within a month, the company’s value soared from barely R2.5bn to R4.1bn...