Did the market get it wrong on Shoprite?
Questions abound after hard sell-off of Shoprite stock, despite record gains in market share
15 September 2022 - 05:00
If Shoprite CEO Pieter Engelbrecht thought he’d get the market’s backing for what he calls an “exceptional” set of year-end results, he was badly wrong.
While the retailer has topped record metrics within its business, Shoprite stock crashed almost 10% on the release of its numbers last week. Since then, its shares have scraped back most of the losses, but show few signs of bounding ahead...
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