Market Wrap - Stock pick — Alibaba

Martin Smith from Anchor Capital chose Alibaba as his stock pick of the day.

“My stock pick and what I've done over the course of the last couple months is got offshore. I think with the rand being a bit stronger, given the carry trade that's happened I think I would look to externalise on my rand, maybe, hopefully it goes below the R14 figure and so I would look to buy some US stocks, something the tech stocks maybe. If there is a little bit of a dip but it would be to go for something like Alibaba. That is where I'd be putting my money.”