Today, shares of Liquid Media Group (NASDAQ:YVR) are skyrocketing higher. Investors in YVR stock have seen gains of 50% today on some pretty impressive volume. In fact, today’s volume of more than 62 million shares trading hands exceeds the average volume of this stock (of just over 1 million shares) by a very wide margin.
It appears investors are bullish on the company’s potential as a non-fungible token play. Today, shares of everything related to NFTs have surged.
Accordingly, speculators are bidding up shares in everything directly, or indirectly, tied to this growth segment.
Why YVR Stock Is Surging Higher Today
- Liquid Media bills itself as a media and entertainment company. Additionally, it’s the only Canadian entertainment studio on the Nasdaq.
- The company provides a range of video game titles, visual effects/production services, as well as an on-demand video platform.
- Accordingly, its plans to leverage its IP into media franchises appears to be taking hold.
- The company recently announced a distribution agreement with Atari. The company will have its video-on-demand distribution platform SlipStream downloadable on the all-new Atari VCS PC/console hybrid under the arrangement.
- So, what does this have to do with NFTs? Well, Atari recently signed a deal with Bondly for gaming NFTs.
- Indeed, it appears the potential for Liquid Media’s games to be turned into highly sought-after NFTs has made speculators salivate.
- YVR stock has been making its rounds on social media of late. Various retail investors seem to be giving this stock credence as a “junior meme stock” right now.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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