Stocks which rally strongly on Friday are almost always in focus the following Monday and by that principle, it is likely that the Lion Group Holding Ltd (NASDAQ:LGHL) stock is going to be in focus today.
There has been no news with regards to the company for many weeks but the Lion Group stock came into sharp focus on Friday and ended the day with gains of as much as 20%. While the rally in the stock perhaps remains a bit of a mystery, it might be the right time for investors to take a look at a key development with regards to the company back in July.
On July 23, the company announced that it subsidiary company Lion NFT Limited was going to launch its own NFT or non-fungible token market platform. The platform, known as Meta World, had been launched in July. NFTs have emerged as a highly lucrative business this year so far due to its rising popularity and many companies have tried to cash in on the trend by getting into the space. The move from Lion Group was an important one and one that may have brought the stock into focus among investors.
