Looking into the premarket action in the markets is a great way of getting some idea about the direction of the market and this morning, it is the Troika Media Group Inc (NASDAQ:TRKA) stock that could be looked into.
The stock has made a strong move in the premarket trading period today and has already recorded gains of as much as 33%. While the gains made by the marketing innovations and brand consultancy firm are considerable, it should be noted that there has been no news that could have led to such gains.
Last month on September 30 the company announced its financial results for the fiscal year that ended on June 30, 2021. Troika noted that it managed to further strengthen its balance sheet by way of an initial public offering and raised $24 million in the form of gross proceeds.
On the other hand, the company also completed the acquisition of Redeeem, which has now been rebranded into Troika IO and in addition to that, a new division named Troika Labs was also launched. At this point in time, Troika is focussed on rapid growth in the post-COVID era and is also looking to make complimentary acquisitions.
