Can this Canadian social media stock be your alternative for Twitter?

Follow us on Google News:
 Can this Canadian social media stock be your alternative for Twitter?
Image source: © 2022 Kalkine Media®

Highlights

Stocks of Twitter Inc (NYSE: TWTR, TWTR: US) spiked by almost five per cent in the premarket hours on Monday.

Personas Social’s Peek Platform is a live streaming platform that enables content creators to sell their content to viewers.

On Thursday, April 21, the Canadian company revealed that the Peeks Platform noted about 5 million user sessions in 2021. 


Stocks of Twitter Inc (NYSE: TWTR, TWTR: US) spiked by almost five per cent in the premarket hours on Monday, April 25, in the wake of reports that its board is negotiating a deal with Tesla CEO Elon Musk.

The agreement between the two is expected to be announced as early as Monday, reports suggested.

Such developments could spark interest in some Canadian stocks like Personas Social Incorporated (TSXV: PRSN), a junior media firm that offers live video streaming technologies and social media solutions.

Personas Social’s Peek Platform is a live streaming platform that enables content creators to sell their content to viewers. On Thursday, April 21, the Canadian company revealed that the Peeks Platform noted about 5 million user sessions in 2021. 

Its average session time was three minutes 15 seconds, i.e., an improvement from two minutes 30 seconds in 2020. In response to this, stocks of Personas Social galloped by 20 per cent on the following day, April 22.

Now, let us look at Personas Social’s overall performance.

Personas Social's (TSXV: PRSN) financial overview for February 2022

Personas Social Inc said that its sales increased by 15 per cent year-over-year (YoY) in February 2022.

The social media company also reported a record net income of US$ 0.11 million in February, up from US$ 0.08 million a year ago, representing a YoY surge of 30 per cent.

 Personas Social (TSXV: PRSN): financial overview for February 2022

Also read: GIB.A, CSU and DOL: 3 TSX growth stocks to buy and hold for long term

Personas Social’s stock performance

Stocks of Personas Social decreased by nearly 60 per cent in a year. However, the social media stock marked a 20 per cent jump on Friday, April 22.

Bottomline

Personas Social said enhanced streaming quality, speed and lesser glitches led to increased session times. The TSXV-listed firm added that 2022 engagement numbers are trending higher, with average times crossing three minutes for the first three months of 2022 compared to 2021. It expects to record more than seven million user sessions this year, with pages views surpassing 150 million.

However, one should note this is a nano-cap company with a market cap of about C$ 10 million, so the risk attached to it would ideally be considered as high.

Also read: Suncor (SU) and Barrick (ABX): 2 TSX commodity stocks to buy

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK