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Massmart surges over 20%, but has the market overreacted?
Some analysts think so, considering the Game and Makro ownerâs wider FY losses, debt burden and lack of dividend. 09:07
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Game, Massmart s biggest division in terms of number of stores, continues to make a loss. Image: Suren Naidoo, Moneyweb
JSE-listed retail and wholesale group Massmartâs share price soared 20.76% on Monday, closing at R54.10 a share â the highest level in more than a year.
The surge came following the release of the groupâs full-year results to December 27, 2020, which show that sales declined 7.7% to R86.5 billion, contributing to a wider net loss of R1.75 billion (2019: R1.29 billion).