Universal Media Group Inc. (OTC: UMGP) is a leader in the production and distribution of media content in different genres through several media platforms. At the same time, UMGP is focused on producing celebrity-based content through social media and streaming platforms. With the company promising a series of announcements this week, UMGP stock is landing on investors’ radars as one of the top stocks under $1 to watch. Given that the news could be related to a new show or a collaboration with Netflix, Inc. (NASDAQ: NFLX), the stock seems to be poised to soar once the news is released.
UMGP Stock News
Providing media content in several genres, UMGP produces and distributes a number of in-house projects. One of the company’s main projects is Before The Fame. A celebrity-based weekly TV show, Before The Fame is presented by UMPG’s CEO Mike Sherman and is considered to be a success as celebrities like Rick Ross, DJ Khaled, and Mike Tyson appeared on the show. With this in mind, Before The Fame’s success is mainly thanks to Sherman’s experience in hosting celebrity-based shows. Before this show, Sherman has been responsible for the rise of hip-hop music in Miami in the early 2000s through his TV show On The Mike. Currently under UMPG’s umbrella, On The Mike was a hit and helped kickstart the careers of some of the biggest stars like Flo Rida, Jason Derulo, as well as DJ Khaled.
Given the company’s focus on celebrity-based content, UMPG produces a weekly podcast called Suga & Sherm which is presented by Sherman and UFC Hall Of Famer Rashad Evans. Each week, this podcast features some of the biggest stars and special guests from different backgrounds including politics and business. Based on these shows, UMGP is positioning itself to become one of the best stocks under $1 in the media industry as it continues gaining popularity by featuring celebrities.
In the meantime, UMGP is developing a new TV show called High School Icon which is designed for high school students in the US with plans to expand worldwide. To facilitate this show, UMGP is also developing a social network similar to TikTok where students will upload their content. Considering that the average age of contestants on American Idol and The Voice is 19 years old, UMGP has the potential to capitalize on this underserved market of high school students through this show. While the company planned to test this platform in Q4 last year and begin production in Q1 this year, UMGP did not share any news on High School Icon. However, this show is a catalyst to watch since it could send UMGP to new highs – making it one of the best stocks under $1 to watch this year.
Although the company’s main focus is on TV shows, UMGP has been looking to expand its business as it partnered with NFTFLY, Inc to utilize its NFT launchpad platform. As an all-in-one NFT solution, this platform could generate several layer combinations for NFT projects – allowing NFT creators to launch within minutes of finishing the design of the NFTs. In addition, this platform offers art generation, blockchain deployment, hosting, marketplace, and launch services for celebrity projects.
On that note, UMGP is capitalizing on its relationship with Rashad Evans by collaborating with him for its first NFT project. At the same time, UMGP plans for Evans to become the ambassador of its NFT platform. With this in mind, UMGP and Evans are currently working to launch the MetaToads project aiming to increase awareness about mental health. Given that Evans promised more news regarding this project and additional projects soon, UMGP could be one of the best stocks under $1 to watch this month.
With that in mind, this new business venture has the potential to allow UMGP to grow financially in the future. With the NFT market exceeding $40 billion last year, UMGP is well-positioned to realize more revenues in the coming years especially if the company partners with more celebrities. In light of this new venture, many investors are bullish that UMGP could emerge as one of the best stocks under $1 to hold for the long term.
In other news, UMGP has been planning for an uplist for a while now. To deliver on these plans, UMGP intends to execute a 5-for-1 forward share split and is currently in the process of reviewing and auditing its financials to prepare for this uplisting. While the company initially intended to uplist to the OTCQB, UMGP canceled these plans and is instead looking to uplist to the NASDAQ. With the company promising several updates and PR over the coming weeks, many investors are bullish on these announcements since they are set to include news about the uplisting process, new shows, as well as M&A efforts. In light of these upcoming updates, UMGP stock could be one of the best stocks under $1 to buy this month.
*Updated January 26th, 2023
Further looking to grow its library, UMGP entered into the first of multiple collaborations with Larry Kasanoff and Threshold Entertainment. This project is set to be a reality show focused on the lives of GenZ social media influencers and will include a number of celebrities. In addition, UMGP’s blockchain partner NFTFLY is expected to provide unprecedented audience interaction with the show. With mass distribution targeted for fall 2023, UMGP could be one of the best stocks under $1 to buy in anticipation of more updates regarding this project.
Meanwhile, UMGP is landing on investors’ radars thanks to the company’s efforts to combat illegal naked short selling – joining other companies like Genius Group Limited (NYSE American: GNS) to expose this corruption. On that note, UMGP is working to issue a digital dividend to combat such naked short selling activity and already has a blockchain partner to facilitate this endeavor. At the same time, UMGP is in the process of engaging external resources to help the company prevent the naked short selling of its stock to protect its shareholders’ value.
With this in mind, UMGP is producing a docuseries regarding market manipulation and naked short selling to increase awareness of this illegal tactic to manipulate share prices. Meanwhile, UMGP intends to release PR this week with updates regarding the company’s business developments. Considering the momentum naked short selling stocks are witnessing, UMGP could be one of the stocks under $1 to buy thanks to its potential to soar over the coming weeks.
*Updated July 31st, 2023
As things stand, UMGP stock is likely to run this week due to a series of major announcements regarding “exciting opportunities”. Odds are one of these announcements is about a new Netflix TV show. This speculation stems from the fact that the company previously shared that it was setting up PR regarding a new show back in June which was delayed.
Moreover, the company hinted at the possibility of utilizing Netflix multiple times last month which could see the new show available on Netflix. If that is the case, UMGP may soar given the potential exposure its show would receive which would eventually on the company’s revenues.
Meanwhile, there are other possible announcements regarding the development of Universal Streams – the company’s AI-oriented streaming service. On that note, little is known regarding the nature of Universal Streams aside from its utilization of AI algorithms which is why an update regarding this venture may be exciting for shareholders.
Another possible announcement could be regarding an update on the company’s show – Before The Fame. With that in mind, the company recently changed the intro of Before The Fame and tweeted about the show multiple times. These actions could be a prelude to UMGP transferring the show’s new episodes from Vimeo to a more notable platform. Given the significance of such news, UMGP could soar this week on these potential announcements – making it one of the stocks under $1 worth watching this week.
UMGP Stock Financials
According to UMGP’s 2023 annual report, its assets remained relatively unchanged YoY at $2 million, that being said, its cash balance increased YoY from $36.5 thousand to $76.3 thousand. On the other hand, liabilities increased during that time from $2.8 million to $3 million.
When it comes to revenue UMGP made $25 thousand in the fiscal year 2023 compared to making no revenue over the same year-ago period. However, its expenses increased substantially YoY from $74.8 thousand to $235 thousand likely due to the fact that UMGP is currently working on developing its new AI streaming platform Universal Streams. Given this surge in expenses, it comes as no surprise that its net loss increased YoY from $167 thousand to $364 thousand.
Media Sentiment
@SuperRobotOTC is bullish UMGP could soar this month thanks to its upcoming announcements.
@bros_dk01 is waiting for UMGP to run this week on its anticipated announcements.
Technical Analysis
UMGP stock is in a neutral trend and is trading in a sideways channel between $0.23, and $0.37. Looking at the indicators, the stock is above the 200, 50, and 21 MAs which is a bullish indication. Meanwhile, the RSI is neutral at 63 and the MACD is curling bearishly.
As for the fundamentals, UMGP is planning to share a series of announcements this week which could see the stock soar since one of the announcements could be regarding a new Netflix show. Given the significance of such news, bullish investors could wait for a successful break of the resistance with a pullback to enter long positions ahead of the anticipated announcements.
UMGP Stock Forecast
Currently, UMGP is one of the most exciting stocks under $1 to watch this week as the company is set to make a series of major announcements this week. One of these announcements could be about a new Netflix show, while the others may be about the company’s new AI streaming platform or a new season of Before the Fame. In all cases, these announcements could cause the stock to skyrocket this week which makes UMGP stock one to watch closely this week.
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