Clubhouse Media (CMGR) Tripled in a Month: Is It Sustainable?

If you are looking for stocks that might have recorded significant gains over the course of the past month, then it might be a good idea to start tracking Clubhouse Media Group Inc (OTC: CMGR) stock.

The stock has gone up by as huge as threefold over the course of the past month but the rally in the stock is possibly due to a case of mistaken identity. The stock has surged in recent days since investors might have confused it with the Clubhouse audio app.

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The audio app in question has been the subject of considerable media coverage in recent weeks and that might have led to many investors flocking to the Clubhouse Media Group stock. As per the company’s profile, the company is involved in the social media branding business and it has no relation whatsoever with the Clubhouse audio app. Hence, investors who might be thinking of investing in the Clubhouse Media stock could consider treading with caution.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.