JSE Recap - August 2023

Who were the biggest winners and losers on the JSE this month?

As August (and thankfully winter) comes to a close in the next few days I thought it would be important to take stock of what has happened over the JSE this month and which shares were the biggest winners and the biggest losers.

Looking to the winners of the month two shares have returned above 50% over the past month. These were 4Sight Holdings (JSE:4SI) a diversified technology group that delivered a return of 57.7% for the month. The runner up not far behind was packing company Nampak that has seen 50.6% rise in share price post the share consolidation as the company gears up for a rights issue in September which shareholders have approved for R1 billion, more than the current market cap of the company. 

Other winners during the month included Transpaco (+32.3%), Calgro M3 Holdings (+30.8%), Labat Africa (+28.6%), South Ocean Holdings (+25.0%) and Fortress Real Estate Investments (+22.0%).

Looking now to the biggest losers, and no I'm not talking about the weight loss show, we have AYO Technology who's stock price has shed a massive 52% over the past month after announcing a R258 million loss for the 6-months ended February 2023. This 6-month loss before tax is massive in relation to the market cap of the company which now sits at a skinny R175m.

Next up and not much of a surprise is Steinhoff International which is down 33% for the month to date after shareholders have elected to dissolve the company and delist it from the JSE. Liquidators have confirmed that the equity value of the company is Rnil so the fact that some market participants still think this is worth a punt is beyond me. 

Other JSE stocks that have felt the pain in August include Anglo American Platinum (-21.9%), Salungano Group (-21.9%), Murray and Roberts (-21.6%), Marshall Monteagle Plc (-21.5%) and Impala Platinum Holdings (-20.1%).