Accounting, Fintech

I Reckon an announcement is pending

In October, after a sudden rise in its share price (from hovering around $1.90 to highs of around $2.50) and rumours of a trade sale doing the rounds, Reckon confirmed it had engaged Macquarie Capital to help it “consider its strategic options“.

As rumours have continued to circulate on deals being done with both MYOB and Sage, the share price has stayed around $2.40.

If I were a betting man, and I am, I would be betting an announcement by Reckon is looming.

 

Have a look at this week’s comparison of $RKN (yellow) $XRO (black) and $MYO (red):

All fairly benign until late Wednesday and then, boom 14% wiped off the Reckon value by this afternoon (with no ASX announced reason).

I’m a firm believer that our share market is ruled by front running announcements (something Xero has been queried for). To me, this looks like some front running.

Let’s see.

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Matt Paff (BBus GAICD) is founder of Value Adders and a veteran of the Accounting Technology industry. Renowned for his accounting technology blog (https://valueadders.com.au/articles) on the key accounting technology industry players, events and trends, Matt is the founder of the Australian consulting firm, Value Adders. Value Adders provides research and strategic consulting services to business technology vendors, accounting firms and other professional service providers, particularly around accounting industry trends and strategy. Matt’s resume includes time as GM at Attaché Software, one of the world’s longest surviving accounting software companies, as well as starting, growing and exiting a successful accounting technology & business process consulting firm. Matt currently Chairs the advisory board of Sydney based accounting firm Imagine Accounting as well as holding an Advisory role with Governance technology start-up GovernRight. In his spare time, Matt also runs a RegTech start-up vSure. Matt is passionate about a practical, plain English perspective. He is known for being a straight-shooter and appreciated for his forthright, researched opinions.

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