- The stock price of Liquid Media Group Ltd (NASDAQ: YVR) increased by over 62% during intraday trading. This is why it happened.
The stock price of Liquid Media Group Ltd (NASDAQ: YVR) increased by over 62% during intraday trading as it went from a previous close of $2.43 to a day high of $3.94. There appears to be a sympathy play in effect for companies in the NFT space today.
Oriental Culture Holding Ltd (NASDAQ: OCG) also went up over 81% and ZK International Group (NASDAQ: ZKIN) increased over 15% today. Below is a chart showing the interest of NFTs on Google Trends:
The hype around this trend has been driven by the recent record sale of an NFT art piece for $69,346,250 and tweets by Tesla CEO Elon Musk — who is selling a song about NFTs. Musk was offered $1 million for the song, but he changed his mind about selling it:
Actually, doesn’t feel quite right selling this. Will pass.
— Elon Musk (@elonmusk) March 16, 2021
What does Liquid Media Group have to do with NFTs? Last week, Liquid Media Group signed a distribution agreement with Atari. And recently, Atari had announced it entered into a strategic partnership with Bondly (an e-commerce platform for digital assets) in order to launch NFTs across gaming, music, etc.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.