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Online Share Trading

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SHP not dropping

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Not applicable
Why is Shoprite not dropping? It seems to be the only share that hasn't had a drop ever since the stock market has been on a downward spiral. It is continuing upwards though there seems to be resistance at R50.
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7 REPLIES 7
Running_bull
Frequent Contributor
Shoprite is extremely resiliant... its got liquid cash and basically running through africa... that its a serious stronghold. Dividend yield of +4%
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saash
Super Contributor
Cos we all getting so poor that we not shopping an WHL anymore, so SHP is making record sales, soaking up market share - haven't checked the numbers see, this is just a guess.
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geordie1
Super Contributor
Check it's business.It has nothing but it makes money by selling stock it has not paid for and making money on cash it keeps.With high inflation and high interest rates it has a lot going in it's favour
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CrownA
Super Contributor
RMH also resilient. have to look at the recession proof stocks - On Bloomberg they calling Consumer Staples and Healthcare. So SHP right in the right mix. WHL also holding up well.
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Electrox
Super Contributor
So where does Pick n pay fit in the picture along side SHP?
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CrownA
Super Contributor
PIK should also be holding up, but I don't know why not. Maybe the previous post about SHP having loads of cash helps it.
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Not applicable
Maybe i spoke too soon, down 5.11% todat for the first time. i had been watching it for the past three weeks to short it. i think this is what i'd been waiting for.
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