Kokkie Kooyman: Why Capitec has fallen 38% since Tuesday - and what to do about it

Capitec, the South African bank twice rated the world's best in the annual rankings by London-based Lafferty Group, was the biggest casualty on a wipeout day for financial shares. The stock's share price lost an astonishing 38.5% in two trading sessions, down from Tuesday's R1 110 to close at R682 tonight (Thursday). Those two trading days have knocked R50bn off the business's imputed valuation with its market capitalisation now R80bn. Is this a portend of worse to come, or the buying opportunity of a lifetime? Capitec's directors were quick to release a statement on SENS in an effort to calm its shareholders' jangling nerves. And as you'll hear in this podcast the bank's argument gets some welcome support from Kokkie Kooyman, for many years South Africa's leading banking sector investment analysts. In this special podcast the Denker Capital co-founder explains the reason for financial shares falling by an average of 7% on the JSE today - and why Capitec has been singled out for such a bludgeoning. Learn more about your ad choices. Visit megaphone.fm/adchoices