OCG Stock Price Increased Over 30% Intraday: Why It Happened

By Amit Chowdhry ● Mar 15, 2021
  • The stock price of Oriental Culture Holding Ltd (NASDAQ: OCG) has increased by over 30% during intraday trading. This is why it happened.

The stock price of Oriental Culture Holding Ltd (NASDAQ: OCG) – a company that operates an online platform to facilitate e-commerce of artwork trading in China – has increased by over 30% during intraday trading. There was not any direct news from the company so it appears there are external factors at play.

Investors appear to be interested in the recent trends around non-fungible tokens (NFTs). “Everydays: the First 5000 Days,” a collage of images sold for $69,346,250 on March 11, 2021, which made it the third most expensive artwork by a living artist (created by Mike “Beeple” Winkelmann). And it was the first purely non-fungible token to be sold by Christie’s. 

Last week, another China-based electronic platform for artists called Takung Art Co., Ltd. (NYSEAMERICAN: TKAT) also saw its stock price increase. TKAT is also up more than 5% today as well.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.