The RMA Global (ASX:RMY) share price is rebounding today. Here's why

The RMA Global Ltd (ASX: RMY) share price is regaining some of yesterday's losses after the company released another market update.

| More on:
asx share price rise represented by rebounding bar chart

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on Technology Shares

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Technology Shares

Guess which ASX 200 tech stock is crashing 25% following an update

This tech stock is being sold off on Wednesday. But why?

Read more »

A young man goes over his finances and investment portfolio at home.
Technology Shares

Why are WiseTech shares sinking 6% today?

What's going on? Let's find out what is happening with this tech stock today.

Read more »

Two IT professionals walk along a wall of mainframes in a data centre discussing various things
AI Stocks

NextDC share price lifts off on record quarterly contract wins

AI-fuelled data centre demand is lifting investor interest in the ASX 200 tech stock today.

Read more »

group of traders cheering at stock market
Technology Shares

What drove a 10% surge in ASX 200 tech shares last week?

The ASX 200 roared to a 2-month high on Friday, with tech shares leading the 11 market sectors last week.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Technology Shares

Why is the Block share price crashing 33%?

This payment giant's shares are being hammered today. But why?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Technology Shares

These ASX 200 tech stocks could rise 20% to 35%

Goldman Sachs is tipping these shares to rise strongly from current levels.

Read more »

A corporate team or board stands together and looks out the window.
Technology Shares

WiseTech shares charge higher on $3.5b acquisition news

This tech stock is ending the week positively. But why?

Read more »

A man leans forward over his phone in his hands with a satisfied smirk on his face although he has just learned something pleasing or received some satisfying news.
Technology Shares

3 reasons to buy this $25 billion ASX 200 tech stock today

A top expert forecasts more outperformance from this fast-growing ASX 200 tech stock.

Read more »