MVY, PRSN, DAC: 3 Canadian social media stocks to buy instead of Snap?

Be the First to Comment Read

MVY, PRSN, DAC: 3 Canadian social media stocks to buy instead of Snap?

MVY, PRSN, DAC: 3 Canadian social media stocks to buy instead of Snap?
Image source: © Gtphotovideo | Megapixl.com

Highlights

  • Stocks of Snap Inc (NYSE: SNAP, SNAP: US) plummeted by about 43 per cent on Tuesday, May 24.
  • Other social media giants like Twitter, Meta, and Alphabet also fell in the tech sector.
  • Datable Technology saw a surge of 79 per cent year-over-year (YoY) in its 2021 revenue.

Stocks of Snap Inc (NYSE: SNAP, SNAP: US) plummeted by about 43 per cent on Tuesday, May 24, after the company disclosed that it expects to miss its revenue and adjusted EBITDA guidance range for Q2 2022. According to its 8-K report released on May 23, the company expects this drop as the macroeconomic environment worsened unexpectedly since the issue of Q2 guidance on April 21.

This development seems to have affected other social media giants like Twitter Inc (NYSE: TWTR, TWTR: US), Meta Platforms (NASDAQ: FB, FB: US), and Alphabet Inc (NASDAQ: GOOGL. GOOGL: US) as they also noted a drop in their stock prices.

It is unclear when the tech sector and these social media stocks will rebound. However, when thinking about the long term, one may want to explore alternative social media stocks.

So, here are some discounted TSXV social media stocks to explore.

Moovly Media Inc (TSXV: MVY)

Moovly Media provides cloud-based tools to create digital content. The media company integrated with Kaltura, a video cloud platform, on May 18 to enhance users’ experience. Amadeus IT Group renewed its multi-year agreement with the media company.

MVY stock plummeted by roughly 78 per cent in 52 weeks. Moovly’s Relative Strength Index (RSI) value was 42.03 on May 24, as per Refinitiv.

Also read: Is Bombardier (TSX: BBD.B) stock too cheap to ignore?

Personas Social Incorporated (TSXV: PRSN)

Personas Social Incorporated offers social media products and services to consumers and businesses. It also provides live video conferencing techs and live streaming solutions.

PRSN stock slumped by roughly 62 per cent in a year. Stocks of Personas Social held an RSI value of 37.11, according to Refinitiv.

Also read: Hive Blockchain’s 5-to-1 share consolidation in effect. A buy alert?

Datable Technology Corporation (TSXV: DAC)

Datable Technology Corporation, which offers internet advertising solutions, reported a year-over-year (YoY) surge of 79 per cent in its revenue in 2021. The company also signed 39 agreements for PLATFORM3 this year.

DAC stock tanked by over 82 per cent in 12 months. DAC’s RSI value was almost 40.97 on May 24 based on data taken from Refinitiv.

 MVY, PRSN and DAC: Are these 3 TSXV stocks cheap alternatives to Snap?

 Bottomline

The return on equity (ROE) for Moovly Media, Personas Social, and Datable Technology was approximately 94 per cent, 416 per cent and 289 per cent, respectively, at the time of writing. Notably, an ROE tends to point at a company’s financial health by dividing its net profit by shareholders’ equity, However, investors should also consider other metrics like price-to-earnings, debt-to-equity etc., while analyzing any stock.

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

Speak your Mind

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