Astonishing rise of Sasol share price: David Shapiro shares ‘intriguing story’
The Sasol share price has given stock market investors a rollercoaster ride, plummeting from January to March and heading up again quickly to June. Sasol is listed on the Johannesburg Stock Exchange and is one of the most closely watched shares in South Africa. The underlying business activity does not appear to be the main, or only, driver of share price performance, with a recent update from Sasol on improvements failing to spur Sasol upwards. BizNews founder Alec Hogg picks up on the intriguing story of the Sasol share price ride in this interview with stock market fundi David Shapiro. – Editor
David Shapiro: It's an intriguing story. We follow analysts that track Sasol and yes when the share hit R21, it was perhaps a ridiculous price. There are still a lot of vulnerabilities surrounding the company at that stage. They moved up pretty quickly as the oil price recovered to R70 – R80, where we felt that, according to analysts, was a reasonable price for it to settle until things change.
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