Uchumi of Kenya Falls 3rd Day on Valuation Bets: Nairobi Mover
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Uchumi Supermarkets Ltd., Kenya’s only publicly traded retailer, fell for a third day and was trading at its lowest level in more than two weeks on speculation the stock is over-valued following a rally.
The stock dropped 9.9 percent to 15.50 shillings by 12:28 in Nairobi, the capital, bringing its decline over the past three trading days to 20 percent. A close at that level would be the weakest since May 11, according to data compiled by Bloomberg.