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Shares of multiple non-fungible-token-associated companies skyrocketed on Monday.
What Happened: Takung Art Co Ltd (NYSE:TKAT) shares spiked 65.09% to $49 in the regular session and another 16.33% in the after-hours trading to $57.
The nearly 81% gain in Takung pales compares with the 277% spike in the shares of the Hong Kong-based online art trading company seen on Mar. 17.
Takung shares again rose 49% along with shares of Jiayin Group Inc (NASDAQ:JFIN) the next day. On Mar. 18, Jiayin shares rose 84%.
Jiayin, a Chinese fintech company is speculated to enter the NFT space. In Monday’s regular session, Jiayin shares rose 78.10% to $14.64, but the shares fell 4.3% in the after-hours trading to $14.01.
See also: Best Penny Stocks Under $1
Hall of Fame Resort & Entertainment Co (NASDAQ:HOFV) shares were up 32.25% at $5.29 in the regular session. Shares fell 5.29% in the after-hours to $5.01. Social media speculation and rumors are associating Hall of Fame with the National Football League. The company is also speculated to make a move on NFTs in the area of collectibles.
#HOFV NFL NEWS INCOMING pic.twitter.com/a0HkL7oESk
— Terry Tibbs (@TerryTi03991358) March 22, 2021
Shares of e-commerce platform Oriental Culture Holding Ltd (NASDAQ:OCG) shot up 24.15% to $14.19 in regular trading. Oriental Culture shares fell 6.27% in the after-hours session to $13.30. Oriental Culture had rallied last week as well thanks to the excitement surrounding NFTs, according to Reuters.
WISeKey International Holding (NASDAQ:WKEY), which announced NFT capability to its platform last week saw shares rise 14.71% to $12.40 on Monday in the regular session. The company’s shares fell 1.61% in the after-hours to $12.20.
See Also: WISeKey Soars 64% As NFT Play
Why It Matters: NFT buzz has been growing of late with Square Inc (NYSE:SQ) and Twitter Inc (NYSE:TWTR) CEO Jack Dorsey selling his first-ever tweet as an NFT for $2.5 million on Monday.
Also on Monday, Sophia, a robot created by a Hong Kong-based company, put her NFT artwork on sale.
Artist Mike Winkelmann, also known as Beeple, said the same day that NFT art was “absolutely” in a bubble.
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