| Too busy to keep up to date with JSE news? That's why Ghost Wrap exists, brought to you by Mazars. Add it to your favourite podcast player or listen to Ghost Wrap here for a whirlwind update (less than 7 minutes) on the biggest stories on the JSE each week. Something is happening at NampakEither the good folk of Peresec are keen to learn more about cans and bottles, or something else is going on. Just a few days after announcing a stake of over 6% held by Peresec, Nampak has noted an intention to postpose the extraordinary general meeting scheduled for 18 January. Clearly, something is happening around the balance sheet and a potential funding partner. To understand more about this issue and to get the latest on Merafe's production numbers and Omnia's exit from Umongo Petroleum, read Ghost Bites this morning>>> Bye-bye BABY?Meme stocks are frightening things. Perhaps the most memorable legacy of the Fed's monetary policy during the pandemic, they trade with almost no reference to underlying value. Like crypto, basically, except even more stupid because there is a way to estimate the underlying value and people ignore it anyway. US-listed Bed Bath and Beyond is firmly in that category. It may as well rebrand to Bed Bath and Beyond Redemption, with a net loss in the latest quarter of $393 million. Impairments have gone through the roof as the company tries to shrink into profitability, planning to close 150 stores by the end of FY22. The group has cleverly used those stores for clearance sales, so there has been a substantial decrease in inventory in this process. The company guidance is that 75% of inventory on hand that would otherwise be obsolete has been cleared through those stores. Another sign of the financial trouble in this company is a tightening of credit terms, which has contributed to a drop in sales and in inventory as well. It is literally trying to save itself by getting smaller. The only half decent business in the group is buybuy BAB Y, the infant and toddler retail chain that is believed to be salvageable. It's all relative here, with this format suffering a drop in sales that is "only" in the low twenties, far below the drop in sales at Bed Bath and Beyond of 34%. To help you understand how a meme stock behaves, the 52-week high is $30.06 and the 52-week low is $1.27. Are you ready to meet Trive South Africa?In a brand new episode of longer-form podcast Ghost Stories, the CEO of Trive South Africa joined me to unpack the strategy of bringing in-depth trading services to South Africans. Trive is targeting traders and investors who are looking for a full-service offering, including telephone brokerage, research and derivatives. It's obviously great to see a multinational organisation investing in our countr y, spearheaded by South African Travis Robson. He shared a wealth of experience with me on the show, including many insights into why they are building this business. Get ready to meet Trive South Africa by listening to this episode of Ghost Stories>>> The rand was moved by our own issues (for once)Regular readers will know that the rand rarely reacts to SA-specific issues. The movements are usually caused by broader macroeconomic factors, particularly related to sentiment towards emerging markets in general. As TreasuryONE points out, the US was out of the market yesterday and that left the rand to fend for itself. With President Ramaphosa cancelling his trip to the World Economic Forum so that he can be shocked here instead of remotely, the rand touched a high of R17.12 to the US dollar. It managed to get back to the R16.95 level, but TreasuryONE is worried about the impact of local factors on the currency, so keep an eye on that. You've still got time to register to attend the TreasuryONE webinar on Wednesday morning at 9am. The team will be unpacking the outlook for 2023, so it is guaranteed to be an insightful session. Attendance is free but you must register here>>> Interested in growth stocks? This is for you!The latest episode of Magic Markets features Craig Antonie of AnBro Capital Investments as our guest. We talked about why 2022 was the perfect storm for growth stocks and what 2023 might hold. As always, this episode is a wonderful way to learn more about investing and the markets. Don't miss a single episode of Magic Markets! You'll find Episode 107 here>>> I hope you manage to have a decent Tuesday, despite the obvious challenges we are all facing at the moment. | 