Axe Capital Investments

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

Axe Capital Trading News shares simple market takes on the stories moving South African shares, the rand, and a handful of major currency pairs.

Coverage focus:

1. JSE shares, South African companies, and the local knock-on effects of big market news.

2. The rand, interest rates, and a small group of forex pairs, with USD/ZAR at the centre.

3. Global stories only when they can actually change how a local investor might act.

Latest Finance Headlines

Elon Musk Says the Short Sellers Betting Against SpaceX Have a "Very Low" Survival Probability. Their Bets Now Equal 32% of the Float.

2026-07-22 03:23 • The Motley Fool Neutral Axe Cap view: Selective

SpaceX faces a massive short position of 206 million shares (32% of tradable float) worth $25 billion. CEO Elon Musk claims short sellers have "very low" survival probability, but the stock has fallen 45% from its post-IPO peak to $123.46. While a potential short squeeze could occur before the company's first earnings report on Aug. 4, expanding lock-up expirations will increase share supply, potentially easing short pressure. The stock trades at 80+ times sales despite impressive 33% revenue growth, leaving valuation concerns unresolved.

Axe note: SpaceX’s heavy short interest and lofty valuation signal caution, with a potential short squeeze adding volatility ahead of earnings.

Why AMD Stock Jumped Today

2026-07-22 03:05 • The Motley Fool Positive Axe Cap view: Selective

AMD stock surged 7.91% after expanding its partnership with Microsoft to deploy Helios rack-scale systems on Azure cloud computing for AI inference workloads. The integrated system combines AMD's Instinct GPUs, Venice CPUs, and networking solutions to reduce AI application costs. Despite Nvidia's dominance with over 90% market share in data center AI chips, AMD's cost-efficient approach could help it gain market share in the rapidly expanding AI market.

Axe note: AMD’s new deal with Microsoft rattles Nvidia’s dominance and hints at cost savings that could ripple to FX markets and local tech sentiment.

Aflac Has Raised Its Dividend for 43 Straight Years. Here's the Catch Income Investors Need to Watch.

2026-07-22 02:15 • The Motley Fool Neutral Axe Cap view: Selective

Aflac has maintained a 43-year streak of dividend increases, with the latest hike at 5.2%. However, investors should be aware that the company derives over two-thirds of its pre-tax earnings from Japan, making it heavily exposed to currency fluctuations between the U.S. dollar and Japanese yen. While the company has managed this risk well historically through aggressive stock buybacks, currency movements could materially impact financial results.

Axe note: Aflac’s long dividend streak comes with a currency risk twist that South African investors should note.

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Focus Areas

We keep the focus on JSE shares, the rand, and the currency moves that matter most to South African investors.

Market notes