I've been following RNT since it listed but really began paying attention when Bader joined in 2016. My notes at the time said:
rent.com.au is a basket case. Revenue of $730k and cash burn of almost $7m for FY16. They only listed in 2015 and have raised capital twice since then. IPO $5m @ 20c June 2015, $3.7m cap raise @ 28c November 2015, $5.4m cap raise@ 15c April 2016.
It has all the characteristics I like in a potential turnaround bargain -- disgruntled shareholders who have been beaten up with dilution, currently loss making, but good management.
Bader and the team have been making good progress since and I had been planning to review in March/April after the launch of RentPay but this morning's news brought everything forward. Entered at 9.5c/share.
Investing at $38m cap is acceptable for me. I would've much preferred sub-$20m as originally planned (when RNT was still under the radar) but can't win them all.
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.96M |
Open | High | Low | Value | Volume |
2.0¢ | 2.0¢ | 1.9¢ | $11.21K | 579.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 335000 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 50763 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 335000 | 0.018 |
3 | 900000 | 0.017 |
2 | 135000 | 0.016 |
1 | 800000 | 0.015 |
1 | 141789 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 50763 | 1 |
0.020 | 1567126 | 6 |
0.023 | 41892 | 1 |
0.025 | 604215 | 3 |
0.028 | 200000 | 1 |
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