WATCH: Stock picks — Spotify and Imperial Oil

Bright Khumalo from Vestact chose Spotify as his stock pick of the day and Drikus Combrinck from Capicraft chose Imperial Oil.

Khumalo said: “I’m going for music, everyone during bad times likes to listen to music and so I’m going for Spotify. They are getting to a point where they have spent over $600m on acquiring podcasts, production centres, good podcasts, entertainment the most recent being The Ringer by Bill Simmons who is a sports analyst.”

Combrinck said: “I’m buying Imperial Oil, it’s a Canadian sands business and is a subsidiary of ExxonMobil, so Imperial can hinge on a lot of Exxon’s technology.”