RDE Inc (OTCMKTS:RSTN) is currently best known for being the operator and owner of the biggest restaurant related digital deals platform in the United States, Restaurant.Com. Yesterday, the company was in the news after it announced the launch of a subscription based offering for restaurants.
Trading Data
On Wednesday, RSTN stock plunged 46% to $0.62 with more 5.7k shares, compared to its average volume of 995 shares. The stock has moved within a range of $0.6200 – 0.9000 after opening trade at $0.90.
RDE Inc.’s Restaurant.com Launches Subscription-Based Digital Marketing Program for Restaurants
However, the news was not welcomed with any kind of enthusiasm by investors and the RDE stock suffered from a sharp selloff. The stock slumped by as much as 46% yesterday owing to the selloff and it now remains to be seen if it can make any kind of recovery over the course of the coming days.
This new subscription based programme is going to help RDE’s restaurant partners to market its offerings to their customers as per their own preferences. In other words, restaurant will be able to market specific items to their customers by way of this programme. The new services offers a wide range of services starting from reviews, email features and customer insights among others.
It is believed that this subscription offering is going to give restaurants a far more comprehensive marketing tool. Although the market reacted negatively to the launch, it may be a good move to keep an eye on the RDE stock regardless.
Key Quote
Alex Cook, Executive Vice President at Jackson & Partners and restaurant food & beverage importer and manufacturer, said, “I’m super excited to see our collaboration with Restaurant.com in developing the subscription-based marketing offering become live. Enabling restaurants to increase the marketing efforts on Restaurant.com platform will be a benefit to consumers and the restaurants..”
Technical Data
RSTN stock is trading below the 20-Day and 50-Day Moving averages of $1.34 and $1.48 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.30. The stock is down 65% in the past month.
