The RMA Global Ltd (ASX: RMY) share price is regaining some of yesterday’s losses after the company released another market update.
The post The RMA Global (ASX:RMY) share price is rebounding today. Here’s why appeared first on The Motley Fool Australia. –
RMA Global Ltd (ASX: RMY) share price has regained some ground from yesterday’s losses after the company released another market update today. This time, its investor presentation at the Bell Potter Decoded conference.
The RMA Global share price is up 1.9% to 26.5 cents per share in late afternoon trading.
RMA is in the real estate app platform market, providing extensive data on residential property sale results for real estate agents and agencies, and reviews of agent performance from vendors and buyers of residential real estate.
RMA Global’s reflected approach during COVID-19
The company used the conference to bring investors up to date on how the company tackled growth challenges throughout the COVID-19 pandemic.
Its presentation outlined how it stopped new feature development throughout the pandemic and instead launched mortgage broking as a new adjacency offering. The company says it now has 80% of Australian real estate agents using its platform and can provide users with all Australian real estate listings.
Its New Zealand base is lower due to fewer listings and the country’s smaller population, but RMA still boasts 110,000 agents and a similar number of property listings.
The company now aims to provide a premium tier for agents to self-advertise on the platform, as it seeks to create a competitive environment among app users targeting potential sellers. The platform already allows sellers to rate their real estate agents, one of the app’s key selling points for regular users.
It’s also looking at social media integrations. RMA said that the company actually grew throughout the COVID-19 pandemic, which may have been boosted by low interest rates and a booming housing market across Australia.
RMA Global share price snapshot
The RMA Global share price has had a bumpy ride since it released its quarterly activities report on Monday, peaking at 28 cents before falling 7% yesterday, then rising to its current price of 26.5 cents.
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Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.