The bellwether stock Safaricom is now on a steady downward march. Since peaking at an all-time high of Sh43 (sometime in the second quarter of 2021), investors have been capitulating faster than one can say Machu Picchu.
To date, it has lost 39 percent of its value or a third of its value since the start of this year. Coincidentally, falling open interest in the third quarter of 2021 (compared to the previous quarter) of its single stock future also marked the beginning of its price reversal.
