Why Is Global Mofy Metaverse (GMM) Stock Up 52% Today?

  • Global Mofy Metaverse (GMM) stock is rising on collaboration news.
  • The company is teaming up with Heartdub to develop Gausspeed.
  • This is an AI tool designed for use in the film industry.
GMM Stock - Why Is Global Mofy Metaverse (GMM) Stock Up 52% Today?

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Global Mofy Metaverse (NASDAQ:GMM) stock is rocketing higher on Tuesday after the company announced a collaboration with Heartdub.

Heartdub is a provider of “physical simulation technology” and will work alongside Global Mofy Metaverse subsidiary Gauss AI. The two of them will take advantage of Nvidia’s (NASDAQ:NVDA) Omniverse Cloud API and RTX GPU technologies.

Using their technologies alongside Nvidia’s, Global Mofy Metaverse and Heartdub will launch Gausspeed. This is an artificial intelligence (AI) platform designed for use by creatives. That includes as a source of early scene creation in the film industry.

Global Mofy Metaverse CEO Haogang Yang said the following about the team up with Heartdub:

“Our strategic partnership with Heartdub gives us a competitive advantage, where we execute on a shared vision and leverage our combined resources and technologies, along with leaders like NVIDIA, to transform filmmaking, while creating meaningful near and long-term value for all of our shareholders.”

GMM Stock Movement Today

With this collaboration news comes heavy trading of GMM stock on Tuesday. That has more than 50 million shares changing hands as of this writing. This is a massive increase over its daily average trading volume of only about 423,000 shares.

GMM stock is up 51.8% as of Tuesday morning.

Investors will find more of the most recent stock market stories below!

We have all of the hottest stock market news that traders need to know about on Tuesday! Among that is what has shares of Tesla (NASDAQ:TSLA), MicroStrategy (NASDAQ:MSTR) and PetMed Express (NASDAQ:PETS) stock on the move today. All of that info is available at the following links!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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