Safaricom
Safaricom rallied 1.55% to close at KES 16.40. It hit an intraday high of KES 16.50. Safaricom traded 5,623,300 shares this, comprised 33.1% of the total volume traded in today’s session.
Nairobi Securities Exchange data shows that Safaricom share price has gained +10.70% since 5th of November,analysts say that this rally was triggered by the record half year profit growth market expectations. Investors reacted positively to this, wanting to own a piece of the cake.
Analysis
This might be a good time to lock in short term gains over the past 14 day rally then consider coming back to the market on a dip in price. Undoubtedly Safaricom is a very innovative company and is at the bleeding edge of the industry.
Kenyan Wall Street research found out that one of the global funds investing in Safaricom in their Q3 2015 commentary noted that “The Company has a deep bench of excellent management and its CFO, in particular, with his passion for creativity and ingenuity, reminded us of the reputation of the late Steve Jobs, founder of Apple.”
