Why Takung Art, Jiayin Group, Hall of Fame, Oriental Culture, WISeKey Stocks Skyrocketed Today

Shares of multiple non-fungible-token-associated companies skyrocketed on Monday.

What Happened: Takung Art Co Ltd TKAT shares spiked 65.09% to $49 in the regular session and another 16.33% in the after-hours trading to $57.

The nearly 81% gain in Takung pales compares with the 277% spike in the shares of the Hong Kong-based online art trading company seen on Mar. 17. 

Takung shares again rose 49% along with shares of Jiayin Group Inc JFIN the next day. On Mar. 18, Jiayin shares rose 84%. 

Jiayin, a Chinese fintech company is speculated to enter the NFT space. In Monday’s regular session, Jiayin shares rose 78.10% to $14.64, but the shares fell 4.3% in the after-hours trading to $14.01.

See also: Best Penny Stocks Under $1

Hall of Fame Resort & Entertainment Co HOFV shares were up 32.25% at $5.29 in the regular session. Shares fell 5.29% in the after-hours to $5.01. Social media speculation and rumors are associating Hall of Fame with the National Football League. The company is also speculated to make a move on NFTs in the area of collectibles.

Shares of e-commerce platform Oriental Culture Holding Ltd OCG shot up 24.15% to $14.19 in regular trading. Oriental Culture shares fell 6.27% in the after-hours session to $13.30. Oriental Culture had rallied last week as well thanks to the excitement surrounding NFTs, according to Reuters.

WISeKey International Holding WKEY, which announced NFT capability to its platform last week saw shares rise 14.71% to $12.40 on Monday in the regular session. The company’s shares fell 1.61% in the after-hours to $12.20.

See Also: WISeKey Soars 64% As NFT Play

Why It Matters: NFT buzz has been growing of late with Square Inc SQ and Twitter Inc TWTR CEO Jack Dorsey selling his first-ever tweet as an NFT for $2.5 million on Monday. 

Also on Monday, Sophia, a robot created by a Hong Kong-based company, put her NFT artwork on sale.

Artist Mike Winkelmann, also known as Beeple, said the same day that NFT art was "absolutely" in a bubble.