Clear market notes built around the JSE, the rand, and what matters locally.

2026-10-23 13:55 • The Motley Fool Positive Axe Cap view: Selective

Moderna stock dropped 17% after leaked data from its phase 3 cancer vaccine trial, despite the data showing positive results (42% reduction in recurrence/death risk for melanoma patients). The stock has surged over 500% this year and trades at $200, well above Wall Street's $135 price target. While the dip may present a buying opportunity for long-term investors, the stock remains volatile and sensitive to clinical trial announcements.

Axe note: Moderna’s share price slid sharply despite positive cancer vaccine results, raising questions about buying the dip from a South African perspective.

2026-10-23 13:45 • The Motley Fool Positive Axe Cap view: Selective

Credo Technology Group (CRDO) designs connectivity chips and active electrical cables that link AI accelerators in data centers. The company's stock has tripled over three years while remaining relatively unknown. In October 2026, Credo unveiled a 1.6-terabit optical cable using silicon photonics technology acquired from DustPhotonics, positioning itself for a transition from copper to optical connectivity in data centers.

Axe note: Credo's niche in data center connectivity could make it a rare winner in the AI hardware upgrade cycle.

2026-10-23 13:31 • The Motley Fool Neutral Axe Cap view: Selective

SpaceX delivered strong Q3 2026 results with revenue soaring 161% YoY to $14.6B, driven by exceptional growth in its Super Intelligence (830% YoY) and Connectivity (69.5% YoY) segments. The company posted $4.4B net income versus a $1.1B loss in the prior year. CEO Elon Musk's $1 trillion revenue target by 2029-2030 appears more achievable, supported by growing AI cloud services demand and the development of the reusable Starship rocket. However, the stock's 68.5 price-to-sales ratio remains extremely high, and risks include Starship development delays and potential slowdown in AI industry growth.

Axe note: Exceptional AI and connectivity gains boost SpaceX earnings, but valuation and execution risks keep caution warranted.