I have been looking at it since it broke below 5/- and through the 4.50 support level with no rebound. It looks like a pump and dump operation which may stretch to 5.40. 2H results will be lean and will definitely affect the PBT figure.
Or are the current buyers also calling the Zain price war a bluff? If this is true, come end of November when the safcom offer ends, this elephant could rally back to 6/- considering the quick sell off.
Mr. Market is always weird...

This may just be a 'dead cat bounce'

when this share broke 4.5 i knew for sure i would catch it at 3.8 but i think the market is factoring the MPESA story of incresing deposits from 35k-50k....


then again i also agree there seems to be alot of pump and dump going on in sfcom.

I'm pretty happy watching this story unfold from the sidelines seeing as i conviniently put all my safcom proceeds into KCB at 18.5..... No regrets

Here to make money...loving what i once hated!!

Whether pump and dump or not ... i am here to make money....if the only way to make money is pump and dump.....then i'd better be smarter in this game!!

As i said in another thread....safcom is a cash cow.

116'200 shares @ 4.30........my exit price 5/-

Tungoje.

Les Baile was promoting Safaricom shares at an international investors forum in SA last week, he also said they are going to spend 24billion in capex this financial year and 20 billion in the next, which MJ later confirmed, so much for the cost cutting calls, i think they are ok.