EDITORIAL: Steinhoff loses its puff
The saga is a cautionary tale for investors to understand what they’re putting their money into
This week, furniture retailer Steinhoff will effectively stop trading on the JSE after a 25-year tenure in which its share price soared from R4 to R95, before plunging to 5c today. A R100,000 investment back in 1998 would have grown to R2.37m, before cratering to R1,250.
Clearly, not a share to buy for the grandchildren. ..
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