AUS
NZ
UK
CA
USA
IND
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.
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.
