Troika Media Group, Inc. (NASDAQ:TRKA) inching closer to its 52-week high?
Market Action
TRKA is currently trading at 2.94 up .25 gaining 0.84%. The stock has traded 0.462 million shares, compared to its average volume of .718 million shares. After opening at $2.96, the stock has moved within a wide range of $2.86 – 3.15.
Troika Media Acquires Crypto/NFT Platform Redeem
- Redeem is “fintech platform that empowers businesses to digitize any asset and build their own blockchain-based payment solutions”
- The current acquisition will expand Troika services and increase revenue streams
- TRKA gains access to global cryptocurrency market
- Redeem will add “mobile payment expertise, non-fungible token (“NFT”) ecosystem” along with its user base of 50K members
- TRKA plans to build on Redeem’sblockchain capabilities
- TMG is adding 10 new employees in the purchase of Redeeem, including founder and CEO Kyle Hill
Robert Machinist, CEO and Chairman, Troika stated “The acquisition of Redeeem increases our ability to significantly grow revenue and strategic opportunities to enhance the core businesses of TMG by immediately positioning the Company as a go-to expert in the NFT and crypto space, particularly in our sports, gaming, and entertainment business, where we will provide brands new opportunities to foster fandom through NFT integration. The combined offering of TMG’s existing portfolio of services, extensive client network, and operational scale with Redeeem’s highly innovative platform, supports our long-term strategic vision of utilizing transformative technology to create additional revenue opportunities for the global brands we partner with every day.”
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