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Here’s Why Troika Media Group, Inc. (TRKA) Stock is Declining After a Robust Tuesday

Troika Media Group, Inc. (TRKA), a consultancy and consumer engagement company, has declined 19.64% in aftermarket trading session and is trading at $2.21 at the time of the writing. The decline is attributable to the profit-taking factor after TRKA surged 50.27% in Tuesday’s regular trading hours and closed the day at $2.75. The surge was the consequence of the announcement of Drew Bress debut in PointsBet’s Live Your Bet Life™ campaign.


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Reason for Surge

On Tuesday, TRKA and PoinBets Holdings Ltd announced that NFL all-time great Drew Brees would debut in the first of three new ad spots for PointsBet’s Live Your Bet Life™ campaign. The spot was a new spin on the leadership skills of the legend quarterback. PointsBet is a global online gaming operator and working in partnership with Troika Group on a 360-degree campaign. The spots were to air nationally and in the markets where the PointsBets is available to the users.

Invitation to TRKA

On 7th October, TRKA announced that it had been invited to present at the LD Micro 14th Annual Main Event. The event was to be held in person and virtually from 12-14 October 2021. The CEO of the company, Robert Machinist, was to present at the event and was expected to discuss the recently announced expectations of the company for the first quarter of the fiscal year 2022.

Q4 2021 financial highlights

On 29th September, TRKA reported the financial results for the fiscal year 2021 which ended on 30th June. The company generated net revenue of $16.19 million during the year against the net revenue of $24.61 million during fiscal 2020. The cost of revenue for the year was $7.5 million against $11.63 million for the same period of 2020. The gross profit for the fiscal was $8.68 million against $12.97 million for fiscal 2020. The total operating expenses for the year were estimated to be $27.67 million against $33.26 million for the same period of 2020. The company suffered a loss of $18.98 million from operations against $20.28 million for the fiscal year 2020. The net loss for the period was $15.99 million (or $1.03 per basic and diluted share) against $14.44 million (or $0.94 per basic and diluted share) for the fiscal year 2022.

Comments from TRKA CEO

While commenting on the quarterly results, Robert Machinist said that the financial results bear the imprint of the challenging environment created by the pandemic. During these times, TRKA remained committed to providing clients with a high quality of services.

What’s ahead for TRKA?

During the last three months, TRKA has surged more than 25%. Estimates suggest that the company’s worth would increase further as the effects of COVID-19 are subsiding. So, potential investors should keep a close eye on TRKA.

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