NFT stocks have been the talk of the town the past couple of weeks. Right now any company that puts “NFT” in a company press release is getting bought up.
The stocks running right now on the NFT hype are not names to marry. But they have the momo right now and offer many short-term trading opportunities that us momentum traders are constantly on the hunt for.
The market sell-off this week brought a few of these back to earth. Today many of these showed signs of holding up, and will likely be in play in the upcoming weeks.
Before we get into NFT stocks to watch, let’s start by talking about what the heck an NFT is!
What is an NFT?
NFT stands for a non-fungible-token. They are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other.
Plain and simple: It is proof of ownership to a digital asset/file that cannot be replicated. It is essentially a certificate of authenticity.
And right now people are turning EVERYTHING into NFTs. Artwork, basketball highlights, music, you name it. A piece of artwork just went for $69 million! There is obviously a lot more to NFT’s, but that’s not why you are here. Let’s get to the stocks.
Here are 7 NFT stocks to keep on your watch list for the upcoming weeks:
$TKAT: Takung Art Co.
Takung Art Co. provides an electronic online platform for artists, art dealers, and art investors to offer and trade in valuable artwork primarily in China. Its platform offers and trades in a variety of artwork, digital and physical.
The first company to get on the map with an NFT press release. Monster run from under $10 to over $70 a share. It’s finally pulled back for a couple of days. Keep this on watch for a bounce. This a stock to trade, not a stock to marry.
$FNKO: Funko Inc.
Funko, Inc., is a pop culture Ecommerce webiste that designs, sources, and distributes licensed pop culture products in multiple countries across the globe.
Strong trender for past 6 months. The last couple of days it has really picked up steam, with volume and range pouring into it. One to keep on your watch list for a while. It has one of the strongest daily trends out of all the names on this list.
$DLPN: Dolphin Entertainment Inc.
Dolphin Entertainment, Inc. operates as an independent entertainment marketing and premium content development company in the US. It operates in two segments, Entertainment Publicity and Marketing; and Content Production.
Questionable fundamentals, but it went on a monster run earlier in the week. We saw the bounce play today, it is something to keep on your watch list if it can hold up and consolidate for a few more days.
$HOFV: Hall of Fame Resort
Hall of Fame Resort & Entertainment Company operates as a resort and entertainment company leveraging the professional football and its legendary players in partnership with the Pro Football Hall of Fame.
Another similar-looking chart that held up well today. Nice bounce of the 9EMA keep this on watch for continuation tomorrow and next week for a quick day trade.
$JFIN: Jiaylin Group
Jiayin Group Inc. operates as an online individual finance marketplace that connects individual investors and individual borrowers in China. It operates a secure and open platform that facilitates transparent, secure, and fast connections between investors and borrowers.
This company has mentioned NFT in a press release to get in on the hype. It’s pulled back, bouncing of its daily 9 EMA. Keep this on continuation watch.
$OCG: Oriental Culture Holding
Oriental Culture Holding LTD, through its subsidiaries, operates an online platform to facilitate e-commerce of artwork trading in China.
Name that got picked up right after the $69 million artwork sale. Monster run from $5 to over $15 in a few days, has a double top look at the $15. It still has some nice range and liquidity for some quick trades, worth keeping on your watch list.
$YVR: Liquid Media Group
Liquid Media Group Ltd. operates as a media and entertainment company. The company provides video game products primarily for casual-game consumers and publishes video games for interactive entertainment hardware platforms.
Speculative small-cap, again, this is not something to marry. Good range and liquidity for the last few days, same trade ideas as the other names on the list.
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