NFT Mania Lifts Stocks - TKAT, WKEY, JFIN, OCG, HOFV, ABXXF

Non-Fungible Tokens mania is lifting stocks. The leader to this movement is TKAT, an online platform for art dealers in China. In response, other Chinese-listed companies have increased on rumors of also participating in the NFT trend. OCG, another arts and collectibles platform and JFIN, a financial marketplace. KBSF is one to look closely at as well, as it has recently combined with a company that owns Luxventure, a social media platform offering cross border merchandise through online and off-line channels and luxury tourism experiences to its members.

WKEY is our top NFT pick. It's trading at about one-third of TKAT's market cap at less than $200 million, but has substantially better NFT developments. It announced NFT for Digital Identity Verification of Valuable Objects and Proof of Ownership of Digital and Tangible Assets a few days ago and also signed a deal for remote document signing last night. It's based out of Switzerland, a much more trusted jurisdiction of operation than China. 

HOFV is up on hopes it can do something with the pro football Hall of Fame, similar to what the NBA has done with NFTs. 

ABXXF, Abaxx Technologies, is a blockchain technology platform in Canada setting up a commodities exchange powered by Ethereum that could be an NFT play. Like WKEY, it's also developing remote document signing services. 

Comments

Post a Comment

Popular posts from this blog

Why JXJT Makes the Next Candidate for a TOP like-pop

Image
Last week out of nowhere, TOP Financial Group Limited (TOP) rose from $7 to as high as $250. As a result, a bunch of Chinese and Hong Kong-related listings followed suit on Friday, including Huadi International Group Co., Ltd. (HUDI), Magic Empire Global Limited (MEGL), Dunxin Financial Holdings Limited (DXF), Jiuzi Holdings, Inc. (JZXN), Top KingWin Ltd (TCJH), Baosheng Media Group Holdings Limited (BAOS), Addentax Group Corp. (ATXG), WeTrade Group, Inc. (WETG), Tian Ruixiang Holdings Ltd (TIRX), Leju Holdings Limited (LEJU), AGBA Group Holding Limited (AGBA),  Lichen China Limited (LICN), Uxin Limited (UXIN), Golden Sun Education Group Limited (GSUN),  Powerbridge Technologies Co., Ltd. (PBTS), U Power Limited (UCAR), WANG & LEE GROUP, Inc. (WLGS), Smart Powerr Corp. (CREG) and AMTD Digital Inc. (HKD). One stock that we think stands out of this list is  JX Luxventure Limited (JXJT) . It increased a relatively muted 12% to $5.95 on Friday but did hit as high as $8.64, proving its
Read more

Carvana: The Gamma Squeeze is Real, Time to Bankrupt Kerrisdale

Image
Heavily shorted Carvana Co. (CVNA) is in the middle of a squeeze. One that looks eerily similar to the beginnings of the one we saw on GME that eventually made it run to $400 and took down Melvin Capital. Once again certain market players or commentators who focus on fundamentals and who misunderstand or downplay the short squeeze thesis will only add fuel to the fire as they short the stock. Will Carvana be able to refinance its debts next year? Will it become profitable by then? Who knows, and who cares. 2024 isn't the timeline here. The timeline starts as early as June 16, 2023. Triple witching day on options. This time Kerrisdale Capital is the target. The firm is in a desperate spot because the last short call it made was C3.ai, Inc. (AI). AI is in the middle of its own short squeeze and has nearly doubled into $40's since Kerrisdale tried taking it down: The AI report is still featured alongside on the CVNA one on Kerrisdale's website , so we can assume this position
Read more

The Next NVDA-Backed Runner and New Asian IPO Squeeze Play

Image
We have seen stocks like Super Micro Computer, Inc. (SMCI) and SoundHound AI, Inc. (SOUN) have incredible squeeze runs thanks to their connection to NVIDIA Corporation (NVDA). We think the next one will be Spire Global, Inc. (SPIR), which popped a week ago after it announced a collaboration with NVDA to enhance AI-driven weather prediction. A few day later it dropped on the announcement of a financing at $14, with the potential to raise $61 million if warrants at $14.50 are exercised. We think there is a good chance that NVDA got in on this financing, as it tends to invest in the companies it does these deals with when spreading AI across different sectors. One such recent example was with Recursion Pharmaceuticals, Inc. (RXRX) for AI in drug development.  It looks like SPIR didn't really need this financing as it has enough cash and looks like it will be cash flow and net income positive in 2024. This financing was of a strategic nature, not something led by brokers to fund a com
Read more