At the beginning of 2019, we did a feature showing 7 stocks that investors were to watch in 2019. We did that forecast basing on the demands on the market and how the stocks had performed the previous year.
As the year progresses, we took stock of how some of the stocks we foretold are performing. In our initial projection, we sad that the following stocks were to watch in 2019:
Of the 7 stocks that we mentioned, 99 percent of them are doing well at. Safaricom Plc, Equity Bank, KCB Group and Co-operative Bank have been among the top movers at the NSE since the year began.
Kenya Airways, however, is not doing well. In fact, it is among the worst performing stocks as at 15th of March 2019. Kenya Airways is the top worst performing stock having lost 38.2 percent followed by Uchumi Supermarket which has lost 26.3 percent.
Home Africa and Liberty Kenya are third and fourth worst performing stocks having shed off 25.7 and 21.3 percent respectively followed by ScanGroup and BAT Group who lost 20.7 and 20 percent respectively.
Kenya Electricity Generating Company, Stanlib Fahari – REIT, Diamond Trust Bank, and Nation Media Group have lost 14.8, 13.8, 11.2 and 9.9 percent respectively.
According to economic analysts, a lot needs to be done to rescue Kenya Airways or shareholders will have no otherwise but to write its eulogy. Already, Kenya Airways CEO Sebastian Mikosz seems to have lost hope after he said, there is no way the airline will recover and make profits in its present state.