In 2021, social media speculation has emerged as one of the notable factors behind speculative rallies in plenty of stocks and it seems that the rally in the Cinedigm Corp (NASDAQ: CIDM) stock is the latest manifestation of that.
The digital entertainment company saw its stock soared 12% yesterday. This morning, the stock has continued in the same vein and jumped by as big as 45% during premarket trading.
The speculation around the stock in the stock markets commenced after there was considerable social media chatter with regards to Cinedigm being a potential non-fungible token play. While that is merely a case of social media speculation at this point, it should be noted that at this point Cinedigm operates its own platform. Users can get access to plenty of television episodes and thousands of films. In recent times, the company has been working on further expanding its portfolio of content. At this point, investors could consider tracking the stock.
Finance and Entertainment Reporter
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