Naspers at 60% of all market value
WATCH: Stock Pick — Naspers
Nesan Nair from Sasfin Securities chose Naspers as his stock pick of the day. Naspers is normally a big-volume player, but on Friday it doubled up to 60% of all market volume, giving an indication of how it dominates the JSE.
Nair says one of the things that affected Naspers on Friday was that Tencent, of which it owns a third, lost ground in Hong Kong.
Naspers’s other divisions, specifically its e-commerce business, are coming to the end of a huge investment phase and are now slowly becoming cash-flow positive. Some analysts are calling Naspers at around R5,800 a share.
Nesan Nair from Sasfin Securities takes us through his reasons for choosing Naspers (NPN:JSE) / R3531.62 / DOWN 4.23% as his stock pick of the day