{"id":29533,"date":"2013-01-09T15:18:41","date_gmt":"2013-01-09T13:18:41","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=29533"},"modified":"2013-01-09T15:43:14","modified_gmt":"2013-01-09T13:43:14","slug":"vodacom-shares-slip-on-profit-taking","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/29533\/vodacom-shares-slip-on-profit-taking\/","title":{"rendered":"Vodacom shares slip on profit taking"},"content":{"rendered":"

Vodacom<\/a>\u2019s shares shaved R3.21 or 2.53% off its value in afternoon trade on the JSE<\/a> on Wednesday (9 January) as a result of profit taking according to a local dealer.<\/p>\n

Having reached a high of R129.83 on Friday (4 January), Vodacom has dropped to an intraday worst level of R122.51 on Wednesday. By 15h15 local time, shares in the group moved to R123.55.<\/p>\n

However, shares in the group have risen from a price of R89.45 over the past year alone, and the price is also up from a low of R116.55 in the past month.<\/p>\n

The dealer said: \u201cIt looks like a case of profit taking. It (Vodacom) has run hard recently. Fund managers back from holiday have had a look at what looks to be inflated prices and are looking to take some profit off the table.\u201d<\/p>\n

Vodacom achieved a record best level of R129.83 on 30 December 2012.<\/p>\n

Earlier this week, an analyst told Business Tech that Vodacom still has the potential to reach R150 on the local market amid an attractive dividend yield and announced plans for Africa.<\/p>\n

In 2012, Vodacom CEO, Shameel Joosub<\/a>, said that the group would renew its interest in Africa. Joosub said the group had \u201ccracked the Africa model\u201d and was ready for a more aggressive assault on the continent.<\/p>\n

Vodacom\u2019s chief said that Vodacom would adopt a two-pronged approach in Africa, namely to continue to drive further penetration within the markets it is currently in, and seek new opportunities \u201cmore proactively\u201d outside its current operations.<\/p>\n

Vodacom already has more than 50 million customers in Tanzania, Lesotho,\u00a0Mozambique, and the Democratic Republic of the Congo.<\/p>\n

The group also became the first operator in South Africa to launch a commercial Long Term Evolution (LTE<\/a>)\u00a0service, having switched on its LTE network on 10 October 2012.<\/p>\n

Related articles<\/strong><\/h3>\n

MTN shares to hit R200 in 2013?<\/strong><\/a><\/p>\n

Vodacom LTE expansion on track<\/strong><\/a><\/p>\n

Vodacom LTE tested, and it\u2019s fast<\/strong><\/a><\/p>\n

Vodacom launches LTE in South Africa<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Vodacom\u2019s shares shaved R2.40 or 1.89% off its value in afternoon trade on the JSE on Wednesday as a result of profit taking according to a local dealer.<\/p>\n","protected":false},"author":9,"featured_media":18442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,175,27],"class_list":["post-29533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-jse","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=29533"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29533\/revisions"}],"predecessor-version":[{"id":29541,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29533\/revisions\/29541"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/18442"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=29533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=29533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=29533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}