In recent times, SPACs or special purpose acquisition companies and non-fungible tokens (NFTs) have been of considerable interest among investors.
Hence, it was no surprise that the Mudrick Capital Acquisition CorporatinII (NASDAQ: MUDS) stock jumped on Tuesday since the stock is a potential play on both those themes. The company announced yesterday that it is planning to complete a SPAC merger with the company Topps. Topps is engaged in the baseball trading card space and there is optimism that the company will soon become a part of the NFT market as well.
The combined value of the new company is going to be $1.3 billion. The announcement from Mudrick has led to considerable optimism among investors and on Tuesday, the stock jumped by as much as 16%. It now remains to be seen if the Mudrick stock can continue to hold on to its momentum over the course of the coming days. Investors could consider keeping an eye on the stock.
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.