Speculators are at it again. The market for companies with potential parabolic upside is absolutely surging right now. Today, speculators have Oriental Culture Holdings (NASDAQ:OCG) and OCG stock on their watch lists.
After hitting a low of $2.82 earlier this month, OCG stock has soared to over $9 at the time of writing on this speculation. This speculation surrounds Oriental’s potential move into non-fungible tokens (NFTs). Currently, the company provides a platform for trading collectibles and commodities.
Here are a few things investors might want to know about this red-hot company right now.
7 Things Investors Should Know About OCG Stock
- The company went public on the Nasdaq in mid-December with a $20 million IPO.
- Accordingly, Oriental used these funds to improve its IT infrastructure and its global expansion plans.
- Currently, the company has 50 employees, centered in Hong Kong and mainland China. The company had over 90,000 users as of last year.
- The company’s offerings focus on the digital sale of collectibles and commodities such as paintings, stamps, coins, collectible cards and pottery/sculptures.
- A crackdown in the number of exchanges by Beijing has forced many companies to list in Hong Kong and in the U.S.
- Additionally, a surge in interest among NFT enthusiasts has driven shares higher today across this sector.
- Essentially, investors are betting on the ability of online art purveyors to pivot to the blockchain. Today, this appears to be pure speculation. However, interest appears to remain high with these small-cap stocks.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.