How to work out the break even point when we don't know how many total clients or the total number of employees encapsulated within their organisations......and how about the pricing of the re-packaged packages?
In the absence of concrete numbers/information I have turned to the charts for some info.... in the short term I think its been oversold, a bounce back to low-mid 40s wouldn't be out of the question in the next week or two, of course this is all TA and although short term may provide some comfort to those that are down.
Must remember that the market in general copped a bit of a whack in the last week or two, together with the underwhelming announcements not surprising that rfn went down. The burger hype also didn't help the cause at all....what a massive beat up.....I mean when you think of burgers and business partners Niel Perry obviously comes to mind... 'the doyen of burgers' apparently, pity someone forgot to tell the general public.... would have expected a bigger name/client to launch the app with.....two burger shops with how many employees? Prefer it if they stick to marketing the product to clients rather than the general 'twitter' public.
On the positive side JP bought on market a few weeks ago somewhere in the 40s if memory serves me correct. He would have a good handle on the number , size and types of clients being signed up. Hopefully the with all the underwhelming news of late JP can overwhelm us with the quarterly. Surely he wouldn't buy on market at double the IPO price(less than 12 months ago) unless the future was looking up, would he?
Fingers crossed we see more green days than red next week. GLTAH
RFN Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
