Cinedigm (CIDM) Extends Rally: Up 175% So Far in 2021
Television content and film producing company Cinedigm Corp (NASDAQ: CIDM) has come into considerable focus among investors in recent times.
On Tuesday, the stock jumped by as high as 19% and that might have been triggered by the fact that Cinedigm is looking to move into the booming non-fungible tokens space. However, at the same time, it is also necessary to point out that the Cinedigm stock has been a major gainer in 2021 and has recorded gains of as big as 175% so far.
The stock had been on an upward curve due to feverish speculation about the possibility of Cinedigm moving into the non-fungible tokens space. It is easy to see why investors are excited about the company’s move. In recent times, non-fungible tokens for creative work have commanded massive prices, and earlier in March, one non-fungible token was sold for as huge as $69 million. At this point, it might be a good idea for investors to keep the Cinedigm stock on their watch lists.
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