WATCH: Stock picks — Equinix and Progressive Insurance

Gary Booysen from Rand Swiss chose Equinix as his stock pick of the day and Jean Pierre Verster from Protea Capital Management chose Progressive Insurance.

Booysen said: “I’m going with Equinix, it’s essentially a large listed real estate investment trust, so it’s a property company but it actually creates data centres so it’s another way to play cloud computing without actually holding the computing section of the business.”

Verster said: “My stock pick is called Progressive Insurance, they are roughly the Outsurance of the US. They really started direct insurance through the telephone, before we had the internet and then started via the internet, selling their policies as well. It also started with pay as you drive insurance, which means that your premiums escalate with how far you drive.”