The Viceroy effect: A one-trick pony?

Viceroy dominated South African headlines again this week but this time the dirt it dished – didn't stick.

On release, the targeted Capitec lost 20 percent of its stock value initially but recovered before the day closed. Capitec also received further backing from both the Reserve Bank and Standard & Poor's since.

Having gained significant fanfare after its Steinhoff report, Viceroy's Capitec report raised a few alarm bells, with some questioning the motives. Analysts typically assess companies and give a 'buy, hold or sell' recommendation. Viceroy seemed to overreach and called for the bank to be placed under curatorship.

And depending on which company Viceroy targets as its next short, it could determine whether they go down in history as a one-trick pony, or not.