Troika Media Group (NASDAQ:TRKA) stock has surged more than +600% this year-to-date.
According to WSJ, Troika Media Group, Inc. is a marketing services company, which leverages data and technology to deliver integrated branding, marketing, media, and analytics solutions.
It offers the following services: TROIKA Brand Building and Activation, TROIKA Innovation and Technology, and TROIKA Performance and Acquisition.
The company was founded in November 2003 and is headquartered in New York, NY.
It released its annual stockholder meeting on its website boasting a successful 2022 report.
Shares of $TRKA are currently trading at $0.77, or up +49% intraday on Monday.
The latest Troika Media Group stock news is rather bullish too.
The company acquired Converge for $125 million, adding $300 million in revenue and jumping to 48 million market cap.
Shareholders Are Raving About a Potential TRKA Short Squeeze
Troika Media Group stock has an extremely high short interest of 97.11%, per Ortex.
This means nearly all of TRKA’s float is shorted.
The cost to borrow the stock is also extremely high — sitting at 192.76%.
This is the annual fee short sellers are paying to borrow shares.
Troika shareholders are expecting a TRKA short squeeze as positive developments in the company eliminate the short thesis.
Investors are looking at $0.85 and $1.00 as the next price targets.
With so much short interest in the company, how high $TRKA will go is highly unprecedented.
Today we’re seeing big volume moving the stock price; over 268 million from its average of 40.5 million.
Big volume has proved to put pressure on short sellers as we’ve seen with AMC Entertainment stock and GameStop.
Should You Buy TRKA Stock?
Like with any other investment, it’s important to do further research and due diligence to back up your conviction behind any stock.
TROIKA Media Group shareholders are up more than 49% on the day, more than 69% in the previous 5-trading days, more than 207% in the past month, and 600% so far this year.
Join the Patreon for my personal technical analysis report on the short-term probabilities of $TRKA stock.
If you would like me to cover more on Troika Media Group stock, leave a comment down below letting me know.
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