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huninni

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27/09/17

23:31

Post #: 27504054
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Originally posted by daicosisgod ↑

I personally like the stock.

However the issue of the $22m write off of marketing funds in the FY'17 results is huge. Despite liking the company I believe this cost is not a one off and probably should be averaged off in equal thirds for each of the FY'15 FY'16 and FY'17 results. The fact that RFG tried to convince sophisticated investors that it was a one off is naïve in the extreme.

The other issue is the resignation of Tony Alford as CEO and major shareholder and his subsequent partial sell down. His brother also resigned earlier in the year and he was COO.

The shorters have done their homework well. A good clue may be the disparity between EBITDA and operating cashflow generated.
At 3rd Nov'16 shorts comprised just 2.61% with a SP of $7.33.
As we speak latest short position is 13.78% on 21st Sep'17 and current SP today $4.27
I believe the shorters are going to smash this stock until the AGM when we should get a trading update.

So monkey business in the accounts, the two major drivers of the last 20 years resigned followed by share sales by Tony Alford have contributed to a very poor SP outcome with volatility to continue until at least the AGM.

GLTAH and please do your own research.

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Great assessment and agree. I'm not going to lie, I like this stock and it's fundamentals but I have a stoploss that will be triggered very soon unfortunately if things don't turn.....and by the looks of things that looks unlikely.

RFG Price at posting: $4.26 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 6.7¢		Change 0.000(0.00%)		Mkt cap ! $166.9M

Open	High	Low	Value	Volume
6.7¢	6.7¢	6.5¢	$367.4K	5.591M

Buyers (Bids)

No.	Vol.	Price($)
1	34979	6.6¢

Sellers (Offers)

Price($)	Vol.	No.
6.7¢	106324	1

View Market Depth

No.	Vol.	Price($)
1	34979	0.066
3	185352	0.065
5	929016	0.064
4	75714	0.063
2	78612	0.062

Price($)	Vol.	No.
0.067	106324	1
0.068	212625	4
0.069	468565	4
0.070	711423	13
0.071	187502	3

Last trade - 15.59pm 01/10/2024 (20 minute delay)

RFG (ASX) Chart

Money Morning, page-31

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Money Morning, page-31

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