Troika Media Group Inc. (TRKA) stock gained 5.91% in after-hours on Friday, July 16, 2021, and closed the weekly session at $2.51 per share. In the morning session of Friday, TRKA’s stock lost 8.85% to close Friday’s morning session at $2.37. TRKA shares have moved down 11.57% in the past week. The company has a current market of $101.20 million and its outstanding shares stood at 42.70 million.
Partnership with CAA Brand
On July 01, 2021, Troika Media Group, Inc announced that it will launch a new advertising campaign, in partnership with CAA Brand Consulting, on behalf of Wilson Sporting Goods Co., as the new National Basketball Association (NBA) official game ball for the 2021-22 season.
Participation in the recent investor conference
Troika Media Group recently participated in the 2021 LD Micro Invitational XI investor conference which was held on Wednesday, June 9th at 3:00 PM EDT.
The company was presented by CEO Robert Machinist, and Kyle Hill, President of Redeeem and Head of Digital Assets.
Acquisition of Redeem
On May 24, 2021, Troika Media Group, Inc closed on the acquisition by its wholly-owned subsidiary, Redeeem Acquisition Corp. (RAC) of Redeeem, LLC (Redeeem), a fintech platform that empowers businesses to digitize any asset and build their blockchain-based payment solutions. RAC has acquired substantially all of the assets and approximately $165,000 of specified liabilities of Redeem for $1.21 million in cash and $10.89 million in the common stock of TMG that vest over three years.
Collaboration with Stampede Ventures
On May 20, 2021, Troika Media Group, Inc collaborated with Stampede Ventures, to launch a new non-fungible token (NFT) series based on a partnership between the Dole Sunshine Company and the “Hungry Artist” David Datuna. The five-piece series includes four fruit-inspired NFTs and a final fifth piece, Sunshine for All.
Launching of Troika Labs
On May 17, 2021, Troika Media Group, Inclaunched Troika Labs, a new division with the primary mission to leverage its expansive data and content creation capabilities to provide a fully integrated digital and creative offering to clients on a global scale.
Troika Labs will be a data-driven content practice built on the intelligence and insight that media provides about which content connects brands with people in the most compelling and personalized way. Troika Labs can deliver a higher level of consumer insight and increase the efficiency and impact of both the creative product and client media investments.
Conclusion
Well, TRKA stock plummeting on Friday is a bit strange because there is no recent news or development which could be linked with its poor performance on Friday.
