The share market jumped 1.8% today as investors looked to a seasonal Santa rally on the first day of December. However several companies headed south so it's worth taking a look at what may be behind the moves of some of today's big fallers.
MNF Group Ltd (ASX: MNF) is the business formerly known as My Net Fone that provides online voice communications through a variety of entities to retail and business customers. The business recently expanded its international horizons, but the stock fell 2.6% today likely due to the fact that shares trade on lofty 26x trailing earnings. However, the company offers long-term growth potential is founder led, enjoys tailwinds, and looks reasonable value at today's price.
1-Page Ltd (ASX: 1PG) shares fell 9% to $3.50 today as investors likely take on board a quarterly commentary issued yesterday that didn't quite match up to the great expectations priced into the company's value. Revenues were up 20% for the most recent quarter over the prior quarter, although this digital recruitment business has a lot of work ahead to justify today's valuation.
JB Hi-Fi Limited (ASX: JBH) shares dropped 1.9% likely as the ripples from Dick Smith's troubles spread to other electronics retailers. JB Hi-FI recently posted some strong quarterly growth numbers however and looks to remain the best consumer electronics retailer for anyone attracted to this space.
Reffind Ltd (ASX: RFN) shares dropped 7.2% to 77 cents today as this digital employee administration business comes back to earth after shares recently soared as high as $1.97 in October. Clearly the market is struggling to value the business's cash-generating potential and the wild price swings suggest it is one to watch from the sidelines.
