This time of year can still be hit and miss on SENS. There wasn't enough yesterday to justify a Ghost Bites article on my website, so I'm not wasting your time by asking you to click through to something that isn't meaty enough to justify that click. Ghost Mail is about insights, not clickbait.

Instead, I'll give you the sprinkling of updates right here in the mailer. First up is Labat Africa, which is no longer suspended from trading. Recent results have been poor and it wouldn't surprise me to see a capital raise. I'm just not sure exactly what the capital would be used for, as there are two new appointments of directors with extensive experience in the tech space. One of them, Ifraan Noor Mohammed, has come in as co-CEO!

Do you need to be a tech person to run a cannabis business? I've met a few techies in my life who are experienced consumers on the more informal side of that sector, but that's something different. We don't know yet what is happening at Labat Africa, but something is happening.

There was also a trading update by Assura, the UK REIT you've never heard of. This is a diversified healthcare REIT that has added a JSE secondary listing. There is minimal liquidity though, so I'm not quite sure why they've done it. Hopefully that situation will improve over time. If you like the thought of a UK healthcare REIT with a dividend yield of over 9%, then you should check Assura out. The trading update seems fairly positive overall, with the fund selling assets in an effort to bring gearing levels down.

Finally, a director of Transaction Capital sold shares worth R886k. I wouldn't want you to miss that!

Moving on, the first Magic Markets episode for the year includes a discussion on the market trends coming into 2025, as well as a sobering discussion on the JSE's performance in 2024 in the context of global markets. There's also some fascinating stuff in there about China and how the geopolitical landscape is playing out. The podcast and transcript are available here>>>

For the qualifying entrepreneurs among you, remember that MIC Khulisani Ventures is looking to provide capital to businesses that are ready to aggressively grow. Applications need to be in by the end of January, with capital expected to flow by March. To fully understand the opportunity, be sure to listen to this podcast>>>

Have a great day!

Ubisoft is having a tough time. The French video game group (most famous for Assassin's Creed) is trading at the same levels seen ten years ago. You don't need to get the calculator out to figure out that this sucks. The release of the next title in the Assassin's Creed franchise has been delayed to February and earnings guidance has deteriorated.

Activist investors smell blood here, so they are pushing the company to find itself a buyer and change the management team. The reality is that things aren't easy for smaller developers who are trying to compete against absolute juggernauts out there.

There are rumours that the firm is in talks with Tencent regarding a potential takeover by the Chinese giant. Given the strength of the underlying games franchise in Ubisoft, being acquired by an industry leader is probably not the worst approach.

Magic Markets Premium kicks off the year with Nike this week, as we are now the closest we've been to taking a long position in the company. Under new CEO Elliott Hill, Nike looks set to get back to its core DNA. There's vast competition in this market, so will that be enough? And is the valuation really cheap enough yet? Subscribers find out this week.

Key Indicators: USD/ZAR R18.96/$ | US 10yr 4.70% | Gold $2,675/oz | Platinum $978.00/oz | Brent Crude $77.29