Money doesn't grow on trees ... but it appears to be growing on bushes for a rising number of companies. Labat Africa will report a much improved full-year performance after it ventured into the market for medical marijuana. Nutritional Holdings is another small cap that is reinventing after acquiring two companies that also develop cannabis products.

While Labat's shares closed higher yesterday, Nutritional's remained at 1c - although trade was brisker than usual for the penny stock. Chrometco's shares didn't budge either after it reported a wider first-half loss due to the impact of the Covid-19 lockdown on its chrome operations.

Also in today's newsletter, Delta Property Fund's lead independent director JJ Njeke has retracted his resignation from the board of the company as its reputation takes a battering after a forensic probe found evidence of fraud in its books. And Caxton's shareholders have approved the disposal of its stakes in RSAWeb and Octotel.

Finally, if you haven't heard it yet, click on Magic Markets for the latest podcast with The Finance Ghost and macroeconomic expert Mohammed Nalla. Following the strong rebound in SA's gross domestic product in the third quarter of the year, they take a closer look at GDP and why it's important. The Ghost is now producing two podcasts a week - but making them shorter so it's easier for you to find a gap in your day to listen.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect

The latest from Ingham Analytics

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