Blog: 3 April 2018 (The Naspers Nose dive)
In today's blog we take a look at former market darling Naspers (NPN) and its stunning share price decline experienced over the last couple of months.
It share price has been hit due to supposed dodged dealings of Naspers in South Africa, as most dodgy dealings it seems linked to the Gupta's. The dealings with the Gupta's relate to a R25mil payment made by MultiChoice to the Gupta's Infinity Media Networks.
See article below for more in this story:
In addition to this Naspers announced that it is to sell as much as 2% of their Tencent stake, which could net Naspers around $11billion.
See moneyweb article for more on this:
So the Naspers (NPN) nose dive..
The interactive candle stick chart shows the severity with which Naspers share price has been declining in recent months. Dashing the dreams and hopes of a lot people dreaming about Naspers hitting R5000 (a hastag #NPN5000) was even started on Twitter to celebrate the arrival of NPN at R5000 a share should it get there.