As a brand consultancy and marketing innovations company, Troika Media Group, Inc. (NASDAQ:TRKA) is well-known for providing marketing solutions for prominent global brands. As the company focuses on rebranding, it plans to venture into the NFTs and metaverse world to better reflect the evolution of audience and content today. In light of these efforts, investors are bullish TRKA could become one of the best NFT stocks to buy in 2022.
TRKA Stock News
Since its inception, TRKA has placed great emphasis on creating value for global brands in the entertainment, sports and consumer products industries. Throughout the years, the company has built a solid portfolio of globally renowned clients including Apple, CNN, Netflix and Amazon. By applying emerging technology and world-class creativity, TRKA continues to generate value for its clients through stronger customer engagement and solid brand equity.
To attract more prominent clients, TRKA plans to undergo a “targeted and scalable M&A approach to build on existing capabilities”. To do that, TRKA’s CEO – Robert Machinist – believes that “there are significant new growth opportunities as clients are looking for innovative and integrated solutions that harness new technologies to grow their business.”
To capitalize on the significant shift in audience, trends and content, TRKA initiated a network rebrand in collaboration with Unimás – the American Spanish language television network owned by Univision Communications. Machinist is excited given that Unimas has been an “integral partner in the transformation of the network brand.” He is bullish that “this new visual identity is in lockstep with a vibrant and thrilling brand”.
In fact, the rebranding is already stirring talks among many investors as the company’s transformed visual identity clearly reflects the current trends, people and content. As a part of its rebranding, the company is also pursuing the world of NFTs as it launches its own team of NFT experts – Troika IO. With the new branding and Troika IO’s expertise, the company is positioning itself as an ideal partner for engaging the next generation of consumers.
The company believes that NFTs could facilitate a more effective way for consumers to connect with their favorite players, teams or brands. To create this, TRKA is currently building its own metaverse where it collects, trades and shares fan memorabilia. By doing this, the company will provide a gateway for brands to deepen engagement and loyalty within their audience. To deliver on this, the company is already establishing itself in this lucrative market with the release of its first ever NFT Application: NFT 360 App.
These ventures are more feasible than ever given the company’s solid financial standing. According to its latest quarterly report, TRKA secured $8.3 million in revenue – an impressive 102% increase from its year-ago period. Additionally, the company saw significantly lower losses as evident by a 45% improvement in its net loss compared to the year-ago period.
With a low market cap of $59 million, investors are bullish on TRKA and all the room it has to grow. Machinist is bullish that with this momentum, the company is “off to a great start to fiscal 2022, with strong revenue growth of 102%, lower losses, and operating leverage across the entire business.”
Throughout 2022, TRKA will focus on implementing its significant growth strategy post-COVID as well as accelerate its expansion in emerging eSports markets around the world. By doing this, TRKA is bullish it can grow its client profile and even exceed pre-pandemic levels – given that the demand for client services across brands is growing exponentially.
Media Sentiment
@warrenpuffettt is bullish TRKA could see a major run-up as the company releases metaverse-related news!
Technical Analysis
Currently, TRKA is trading at $1.36 with a primary support near 1.20 and a secondary support at near 1.12. The stock is showing a weak resistance at 1.55. Accumulation is currently trending downwards. Meanwhile, the MACD is bullish to the upside and the RSi is at 66 and continues to trend upwards.
The high RSI indicates the stock is slightly overbought. Complemented by a bullish MACD, it is clear that investors are bullish on the future of TRKA. Even though accumulation is currently trending downwards, it could see a reversal very soon considering other indicators. In fact, TRKA could fill the gap and reach $1.55 or even $1.75 on news from the company. With this in mind, TRKA could be among the best NFT stocks to buy as the company continues to grab investors’ attention with its plans.
TRKA Stock Financials
Given its solid portfolio of clients and significant financial growth, TRKA expects to continue revenue growth well into 2022. In fact, its impressive revenue growth and ventures into lucrative markets is already a bullish sign for many investors in the industry. In light of this, TRKA could be among the best NFT stocks to buy before impending catalysts play out. As investors anticipate a PR from the company, they are bullish that metaverse news could send this low float stock on a run-up past its resistance of $1.55.
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