Singing Machine Company (OTCMKTS:SMDM) Stock Moves Up After The News

Shares of Singing Machine Company (OTCMKTS:SMDM) continued to move higher, extending its weekly gains to 135.

Market Reaction

On Wednesday, SMDM stock jumped 8% to $0.27 with 3.7k shares, compared to its average volume of 42k shares. The stock has moved within a range of $0.2600 – 0.2700 after opening trade at $0.26.

Expert Executive of Stingray Group, Mathieu Peloquin Appointed to Singing Machine Board of Directors

North American leader in consumer karaoke products, Singing Machine Company (OTCMKTS:SMDM), announced on December 01, 2021 that Mathieu Peloquin, Senior Vice President of Marketing and Communications for Stingray Group has joined their board. Stingray has been a long-time premium partner of Singing Machine, by offering an extensive library of expertly produced and licensed karaoke content. The former made a strategic investment in the Singing Machine in August 2021 as well.

Gary Atkinson, CEO of Singing Machine, couldn’t be more excited about Mathieu Peloquin coming on board. They are eager to see how his experience in the world of music, media, and entertainment, can benefit their company. As of now, they are focused on increasing recurring subscription revenue associated with their Stingray partnered products, for 2022.

Mathieu Peloquin is a CPA, CMA and holds a Bachelor of Commerce from the School of Management of the Université du Québec à Montréal. He has vast expertise for over two decades, being a superb marketer, strategist and inspiring leader. He was appointed Senior Vice-President, Marketing and Communications at Stingray in 2013 and oversees marketing, communication strategies, content and investor relations. Presently, he is a member of the Marketing Network of the Cercle des Présidents and supports several causes including Centraide du Grand Montreal.

Traders Review

SMDM stock is trading below the 20-Day and 50-Day Moving averages of $0.3123 and $0.3288 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.3661. The stock is down 21% over the past month.

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