Mustek, one of South Africa’s largest assemblers and distributors of personal computers and complementary ICT products, has had an excellent two weeks on the JSE.
The company’s share price increased by 50% between 16 July and 29 July, which shows a renewed interest in the company.
The bad results caused the share price to plummet to R8.25 per share, the lowest it has traded since the pandemic. The key for Mustek is to reduce its working capital — the inventory and accounts receivable — which piled up over the last few years.If they successfully reduce Mustek’s working capital, a significant amount of cash will be released.
Another option is for Mustek to de-gear its balance sheet and do share buybacks at these low levels. “I can see Mustek rallying a lot from that,” he said.
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