Takung Art Co Ltd (NYSE: TKAT) shares rose 277% on Wednesday. The stock, which rose another 36% to $ 30.90 on Thursday morning, appears to be a new retail favorite.
The rise of the Hong Kong-based online art trading platform has been in the frenzy with increasing social media attention triggered by non-fungible tokens. NFTs are similar to a digital certificate of ownership.
About Takung Art: Takung Art operates an electronic online platform for selling and trading works of art. Through its platform, Takung gives artists / art dealers / owners access to a much larger art trade market where they can connect with a wide variety of investors.
In addition, Takung’s platform invests in high-end and works of art, that are accessible to normal people without financial means. The company’s trading platforms include the sale of calligraphy and paintings, jewelry and precious stones.
Takung generates revenue in the form of services related to the supply and trading of works of art on our system, which consists mainly of listing fees, trading commissions and management fees.
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