Universal Media Group Inc. (OTC: UMGP) is a leader in the production and distribution of media content in different genres through several media platforms. At the same time, UMGP is focused on producing celebrity-based content through social media and streaming platforms. With the company looking to combat illegal naked short selling to protect its shareholders’ value, UMGP is gaining investors’ attention thanks to the growing number of companies taking a similar stance. Given that the company is preparing to issue a digital dividend and produce a docuseries regarding naked short selling, UMGP could be poised to soar over the coming weeks thanks to these endeavors. Meanwhile, the company plans to release PR this week regarding its business developments – making UMGP one of the stocks under $1 to watch closely.
UMGP Stock News
Providing media content in several genres, UMGP produces and distributes a number of in-house projects. One of the company’s main projects is Before The Fame. A celebrity-based weekly TV show, Before The Fame is presented by UMPG’s CEO Mike Sherman and is considered to be a success as celebrities like Rick Ross, DJ Khaled, and Mike Tyson appeared on the show. With this in mind, Before The Fame’s success is mainly thanks to Sherman’s experience in hosting celebrity-based shows. Before this show, Sherman has been responsible for the rise of hip-hop music in Miami in the early 2000s through his TV show On The Mike. Currently under UMPG’s umbrella, On The Mike was a hit and helped kickstart the careers of some of the biggest stars like Flo Rida, Jason Derulo, as well as DJ Khaled.
Given the company’s focus on celebrity-based content, UMPG produces a weekly podcast called Suga & Sherm which is presented by Sherman and UFC Hall Of Famer Rashad Evans. Each week, this podcast features some of the biggest stars and special guests from different backgrounds including politics and business. Based on these shows, UMGP is positioning itself to become one of the best stocks under $1 in the media industry as it continues gaining popularity by featuring celebrities.
In the meantime, UMGP is developing a new TV show called High School Icon which is designed for high school students in the US with plans to expand worldwide. To facilitate this show, UMGP is also developing a social network similar to TikTok where students will upload their content. Considering that the average age of contestants on American Idol and The Voice is 19 years old, UMGP has the potential to capitalize on this underserved market of high school students through this show. While the company planned to test this platform in Q4 last year and begin production in Q1 this year, UMGP did not share any news on High School Icon. However, this show is a catalyst to watch since it could send UMGP to new highs – making it one of the best stocks under $1 to watch this year.
Although the company’s main focus is on TV shows, UMGP has been looking to expand its business as it partnered with NFTFLY, Inc to utilize its NFT launchpad platform. As an all-in-one NFT solution, this platform could generate several layer combinations for NFT projects – allowing NFT creators to launch within minutes of finishing the design of the NFTs. In addition, this platform offers art generation, blockchain deployment, hosting, marketplace, and launch services for celebrity projects.
On that note, UMGP is capitalizing on its relationship with Rashad Evans by collaborating with him for its first NFT project. At the same time, UMGP plans for Evans to become the ambassador of its NFT platform. With this in mind, UMGP and Evans are currently working to launch the MetaToads project aiming to increase awareness about mental health. Given that Evans promised more news regarding this project and additional projects soon, UMGP could be one of the best stocks under $1 to watch this month.
With that in mind, this new business venture has the potential to allow UMGP to grow financially in the future. With the NFT market exceeding $40 billion last year, UMGP is well-positioned to realize more revenues in the coming years especially if the company partners with more celebrities. In light of this new venture, many investors are bullish that UMGP could emerge as one of the best stocks under $1 to hold for the long term.
In other news, UMGP has been planning for an uplist for a while now. To deliver on these plans, UMGP intends to execute a 5-for-1 forward share split and is currently in the process of reviewing and auditing its financials to prepare for this uplisting. While the company initially intended to uplist to the OTCQB, UMGP canceled these plans and is instead looking to uplist to the NASDAQ. With the company promising several updates and PR over the coming weeks, many investors are bullish on these announcements since they are set to include news about the uplisting process, new shows, as well as M&A efforts. In light of these upcoming updates, UMGP stock could be one of the best stocks under $1 to buy this month.
*Updated January 26th, 2023
Further looking to grow its library, UMGP entered into the first of multiple collaborations with Larry Kasanoff and Threshold Entertainment. This project is set to be a reality show focused on the lives of GenZ social media influencers and will include a number of celebrities. In addition, UMGP’s blockchain partner NFTFLY is expected to provide unprecedented audience interaction with the show. With mass distribution targeted for fall 2023, UMGP could be one of the best stocks under $1 to buy in anticipation of more updates regarding this project.
Meanwhile, UMGP is landing on investors’ radars thanks to the company’s efforts to combat illegal naked short selling – joining other companies like Genius Group Limited (NYSE American: GNS) to expose this corruption. On that note, UMGP is working to issue a digital dividend to combat such naked short selling activity and already has a blockchain partner to facilitate this endeavor. At the same time, UMGP is in the process of engaging external resources to help the company prevent the naked short selling of its stock to protect its shareholders’ value.
With this in mind, UMGP is producing a docuseries regarding market manipulation and naked short selling to increase awareness of this illegal tactic to manipulate share prices. Meanwhile, UMGP intends to release PR this week with updates regarding the company’s business developments. Considering the momentum naked short selling stocks are witnessing, UMGP could be one of the stocks under $1 to buy thanks to its potential to soar over the coming weeks.
@SuperRobotOTC is watching for a potential interview with GNS’ CEO in UMGP’s docuseries.
@Arcstockstrader is bullish on UMGP’s long-term commitment to combat illegal naked short selling.
Currently trading at $.74, UMGP shows supports near .6787, .3903, and .20. Meanwhile, the stock shows resistances near .9123, 1,2441. Given the growing momentum for companies combating illegal naked short selling, UMGP soared by as much as 71% following its announcements regarding that matter – breaking through the $1 mark. Although the stock has cooled down slightly following this run, many investors are bullish that UMGP stock could witness a similar run in the near term considering its plans to release PR this week.
Recently, UMGP rebounded from its 50 MA support. However, the stock is trading below its VWAP which it failed to break through multiple times. Based on this, UMGP could watch for retests of the 50 MA to enter their positions in anticipation of the upcoming PR. However, if the stock breaks through that key support level, UMGP could further drop to retest its 200 MA support – which could be a good entry point for long-term investors.
Although accumulation took a dip following UMGP’s run past $1, it appears to be rebounding thanks to the anticipation for the company’s upcoming PR. Meanwhile, the MACD is bearish and the RSI is holding at 48 which could signal a strong move in either direction. With this in mind, UMGP has an OS of 26.1 million and an extremely low float of 3.2 million – which could allow the stock to soar on a strong buying activity.
UMGP Stock Forecast
Although the company’s plans to build a media empire are attractive to several long-term investors, UMGP is gaining momentum thanks to its stance on combatting naked short selling. Considering the runs witnessed by other stocks with the same stance – especially GNS – UMGP has the potential to continue running over the coming weeks in anticipation of updates regarding its efforts to eliminate naked short selling. These plans are gaining investors’ attention since UMGP plans to issue a digital dividend and engage external resources in an attempt to reduce the naked short selling witnessed by its stock. UMGP is also producing a docuseries regarding market manipulation and naked short selling to raise awareness of such illegal activities. With the company promising PR this week regarding its operations, UMGP could be one of the best stocks under $1 to buy as its catalysts play out.
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