Locked
Stock pickers rejoice as reopening bets pay off – With insights from The Wall Street Journal
"The powerful economic rebound is making winners of investors who wagered on businesses revving up again," writes The Wall Street Journal.
The US's boom in "re-opening stocks" hasn't (yet) been mirrored on the JSE. So it is rational to look at their SA cousins. The sore thumb is Famous Brands, SA's food retailing market leader which yesterday reported a R700m operating profit reverse in the year to end Feb (Click here for the full report). Add the R2.5bn written off on its disastrous GBK adventure and it's hardly surprising to see the group's market cap down two thirds from its peak. But is Famous Brands really only worth what it was nine years ago? There's a webcast at 10am today which should answer this question. – Alec Hogg
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