David Shapiro from Sasfin Securities chose Alibaba as his stock pick of the day and Wayne McCurrie from FNB Wealth & Investments chose Prosus.
Shapiro said: “The sell-off that we’ve seen in Alibaba, which was almost a 10% sell-off, and considering where they are going with the turnaround that we’re seeing in Chinese companies, if Alibaba can keep selling as the numbers showed today, which was astronomical. I can imagine that it is going to present a cheap entry point.”
McCurrie said: “Chinese tech stocks has been a sharp sell-off for the past few days but they are still where they were for the past few months and haven’t lost three years worth of share price appreciation…. Though I’m going for Prosus, you can go for any of them at this sort of price.”