What is an NFT?. “Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other”. NFT stocks have become one of the hottest sectors in the market. $TKAT, Takung Art, jumped from 3 dollars to an all time high of $74 in a matter of days. The market awareness for NFT stocks has increased as the NBA features “NBA moments” which are NFTs available for purchase as collector’s items.
Both $Feng and $LGHL are on our NFT watch list. $Feng is currently trading below $2 and $LGHL is trading in the $4.60 range. $Tkat initially ran to $41 during after hours trading. You can sign up for after hours trading with Webull and receive a free stock with your first $100 deposit. Webull allows after hours trading from 4 to 8 pm and premarket trading from 4 am to 9 am. Make sure you use limit orders when trading after hours to get the best price.
Even if you’ve have little trading experience, understanding how to use a few simple tools can help you determine when a stock is looking bullish. The stock market has been so volatile in the wake of Covid-19 which makes it all the more important to understand and use tools such as RSI which is a great indicator of when a stock is either undersold or oversold. Opportunities do exist in this type of market if you know how to find them.
Groupon, perhaps the most famous coupon site in the world posted gains of over 17% on Friday. As businesses begin to reopen, we are seeing gains across many stocks in the service sector. Groupon is known for advertising restaurants, salons, and other service industries by offering coupons for services.
As more attention is focused on 5G Technology, Marvell continues to gain attention among the stocks to watch. The decision by some countries to ban Huawei from the 5G build has added an increased interest in Marvell (MRVL). 5G is a long term growth driver for Marvell with infrastructure product demand from large core markets.
Even during the downturn and financial chaos opportunities exist to make profits on the volatility of the market. I asked someone to explain 5G to me. He said, “Imagine you’re getting all of your internet and data services through a tiny straw. Now imagine that changes to the same services and data flowing to you like an ocean wave. That wave is 5G”.
Marvell Technology announced earnings of 18 cents per share which is higher than expected. Marvell (MRVL) is expected to benefit from the recent restrictions on the Chinese based Hwauei which has been a leader in the production of 5G. As Hwauei comes under increased scrutiny, Marvell is in a unique position to take advantage of the spread of 5G technology.