Takung Art Co Ltd TKAT shares skyrocketed 277% on Wednesday. The stock, rising another 36% to $30.90 Thursday morning, appears to be a new favorite of retail investors at large.
The Hong Kong-based online art trading platform's rise prompted by increased attention from social media amid frenzy surrounding non-fungible tokens. NFTs are akin to a digital certificate of ownership.
About Takung Art: Takung Art operates an online electronic platform for offering and trading artwork. Through its platform, Takung allows artists/art dealers/owners to access a much bigger art trading market where they can engage with a wide range of investors.
What’s more is Takung’s platform also invests in high-end and artwork accessible to ordinary people without financial resources. The company's trading platforms comprise the sale of calligraphies and paintings, jewelry, and precious stones.
Takung generates revenue in the form of services in connection with the offering and trading of artwork on our system, primarily consisting of listing fees, trading commissions, and management fees.
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