Tomorrow is going to be an interesting day...I just can not wait..I will be tuned into the parliamentary channel on DsTv . I expect to see the whole Steinhoff team there plus the HAWKS. Also expect most of the honourable parliamentatarians (exept Mynier) to call steinhoff.......the afrikaans version....STYNHOF.....LOL
On the one hand the share can go up but on the other hand the share can go down. A lot is going to depend what the seagull CEO is going to say about Wiese (as Investment Novice has pointed out)..if he says Wiese and the other directors are aware of wrongdoing..there goes Wiese's litigation case and the share price could rally . But recall ..Le Grange said ..'according to him Wiese knew nothing'
I think the share price is going to drop as I do not believe the market has fully discounted what Mr Jooste might reveal tomorrow. Nevertheless, I hope I am wrong and that it will rise on any good news from Jooste.
Maybe once Mr Jooste is de-mistified AND he can give a very positive spin on Steinhoff's future and pledge his co-operation to assist further, we could be seeing a rise and better stable share prices until the next results become available in December. Hopefully I can get to 7.00 and I can sell.
However, I will be ready to buy if it goes below 1.80