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As investor chatrooms like StockTwits and Reddit’s r/wallstreetbets light up with BBIG’s mention, along with other new meme names, the NFT stock has more than doubled in price from last week. Also, the strategic launch of its E-NFT platform and its planned Lomotif acquisition have helped the stock soar 149.5% over the past three months.
However, the company reported disappointing second-quarter earnings results. In addition, its expanding operating expenses and losses and uncertainty surrounding the NFT space could cause its shares to retreat in the near term.
