Well I have longed RFG on this day 2 reaction. Lets see what happens.
I do suspect that some of today's action was manipulation, only because the sellers eased off a bit and then there was super heavy selling until just under yesterday's low SP (where a typical seller/shorter who wanted the highest possible price would probably have been patient). As I don't care about technical analysis, other than my own mangled version of it, I'm quite happy to long on that.
I'm not sure that the impact of the accounting changes really matters that much at this stage. The financiers will probably apply some sort of odds to the exposures to the franchisees, and RFG may well have legal ways of updating their contracts to improve this position re covenant calculations as well.
Good luck to all holders, including me - lol
RFG Price at posting:
$4.77 Sentiment: Buy Disclosure: Held
