- GameStop closed at US$90 on Tuesday.
- Jeff Bezos to step down as Amazon CEO.
- Apple knockout results.
- Ford to spend R15.8billion on local plant upgrade.
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Booming SA Inc. consumers?
We’re seeing decent updates from local retailers so far this year, which is odd. Now let’s be clear, decent not knock it out the park.
- Distell (JSE code: DGH) lost 41 days of sales in the second half of 2020 yet expects HEPS to be + 8.6% – +13.6%.
- Motus (JSE code: MTH) expect HEPS to be 0% – 5% higher, sent the stock up some 20% in two days.
A few possible reasons;
- Lockdown so we have money to spend
- Working from home saving on transport
- Social grants increased
36One calculate some R100bn extra from social grants but also people taking money out of pension schemes & retrenchment packages. The risk here is that this is temporary, which is certainly the 36One fear.
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