Sofina slides after November rally

Sofina SA

21/11/2022 11:54

** Shares in holding company Sofina  SOF.BR  drop more than
6% to the bottom of Belgium's BEL 20 blue-chip index  .BFX 
    ** "My best guess would be that the stock did rise heavily
since the start of November," KBC Securities' Sharad Kumar S.P
says
    ** "Some investors might be taking profits and some money
off the table ahead of year end," he adds
    ** Up to Friday's close, Sofina shares were up around 13%
since Nov. 1, but are now heading for their worst day since
mid-September
    ** The analyst also notes many Sofina's investments "are in
high growth cash-burning companies looking to turn a profit"
ahead of an expected recession in 2023
    ** The stock is down 51% YTD including Monday's fall
 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))