Well known multichannel steaming platform operator Loop Media Inc has experienced a spike in popularity among investors in recent days. The Loop Media (OTCMKTS:LPTV) stock emerged as one of the notable gainers over the past week and ended the up with gains of as much as 6% during the period. That took the gains made by the stock over the course of the past month to as much as 13%.
Market Action
On Friday, LPTV stock flat at $2.60 with 333 shares, compared to its average volume of 1.5K shares. The stock has moved within a range of $2.6000 – 2.6000 after opening trade at $2.65.
Loop Media, Inc. Launches New Channels, So Yummy! & Blusher, Enhancing Its OOH Offerings for Businesses and Foodie and Beauty Audiences
The company is mainly involved in curated music videos and branded channels that are meant for consumers and enterprises. Yesterday, the stock came into focus after Loop Media announced the launch of two new channels.
One of the channels is So Yummy! and the other is named Blusher. The two channels in question are meant for its out of home business clients who are already present on the Loop Player. It seems that the news about the launch of two new channels led to a fair degree of excitement among investors and eventually led to the rally. In light of the performance of the stock in the past few weeks, it may be a good time to start tracking the Loop Media stock closely.
Key Quote
“The So Yummy! and Blusher channels are welcome additions to our ever-expanding selection of video offerings for our out-of-home clients,” said Greg Drebin, Chief Content Officer of Loop Media. “Premium food and beauty content like So Yummy! and Blusher works well in the OOH environment, whether bars, restaurants or beauty salons. These new channels complement our recent channel additions, Global Fashion Channel and GoPro TV, as we continue to grow in the consumer lifestyle space. We aim to further delight our audience with new OOH experiences and help First Media expand the reach of its engaging content.”
Traders Note
LPTV stock is trading above the 20-Day and 50-Day Moving averages of $2.48 and $2.42. Moreover, the stock is trading is the neutral zone with RSI stands at 56.
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