ZK International Group could spice up the NFT space (ZKIN, XXII, KTTA, QLGN, ALLK)

It looks like Santa rally may finally come to the US Stock Market. Let’s take a look at some of the hot stocks on the big boards today.

Shares of 22nd Century Group, Inc. (NASDAQ: XXII) gained $0.85 after the company announced that the U.S. Food and Drug Administration (FDA) has authorized the marketing of the Company’s VLN® King and VLN® Menthol King reduced nicotine content cigarettes as modified risk tobacco products (MRTPs). The Agency found that VLN® – which smokes, tastes, and smells like a conventional cigarette but contains 95% less nicotine than conventional, highly addictive cigarettes – “help reduce exposure to, and consumption of, nicotine for smokers who use them.” Pasithea Therapeutics Corp. (NASDAQ: KTTA) opened its second London clinic in Marylebone offering intravenous (“IV”) ketamine therapy to patients suffering from treatment-resistant mental health issues. The Company opened its first U.K. clinic in Knightsbridge in October 2021. Looks like this news has caught traders and investors attention leading to a surge in KTTA’s stock price surge over 36%.

Another stock that needs attention is Qualigen Therapeutics, Inc. (NASDAQ:QLGN). QLGN last traded at $1.29, over 29% its previous close. While no new news was announced by the company, it seems that retail investors are all to blame for the recent rally. The company has named Amy Broidrick as President and Chief Strategy Officer. Ms. Broidrick will also continue in her role as a Director. Michael Poirier, who had previously been serving as Chairman, President and Chief Executive Officer, will continue to lead the company as Chief Executive Officer, and Chairman of the Board. Ms. Broidrick joined the Board of Directors of Qualigen Therapeutics in August 2020, and was later appointed Executive Vice President, Chief Strategy Officer in December 2020.

Shares of Allakos Inc. (NASDAQ:ALLK) bounced back to close the day at $10.45. The stock crashed earlier after the company announced results from its phase 3 Enigma 2 and its phase 2/3 Kryptos clinical studies evaluating lirentelimab. Allakos reported that both clinical studies met their histologic co-primary endpoints.

Now, let’s focus on NFT plays including Creatd Inc. (Nasdaq:CRTD), Takung Art Co. Ltd. (NYSE American:TKAT), ZK International Group Co. Ltd. (Nasdaq:ZKIN), WISeKey International Holding Ltd. ADR (Nasdaq:WKEY), and eBay Inc. (Nasdaq:EBAY). 

One of the most remarkable growth opportunities to get in gear over the past year is the non-fungible token (NFT) marketplace. However, contrary to popular confusion, this is not a pile of disjointed collectibles strung together in a common “hobbyist” instinct. This is the birth of digital real estate. It represents the dawn of true property rights for digital goods. 

Jesse Walden’s (Variant Fund) eloquent exploration of the coming NFT boom says it best in his “NFTs Make the Internet Ownable”.

The amount of real-world property value is limited by physics. The value proposition for digital goods is theoretically unlimited. Cyberspace is infinite. Physical space is finite. It’s just that simple. And, right now, NFTs represent the only solution to the puzzle of unleashing that infinite value. The NFT space was on fire earlier in 2021 after a JPEG file by the digital artist Beeple sold for $69 million at Christie’s. That momentum resurfaced in August and picked up further in September as monthly sales on OpenSea, the top platform for buying and selling NFTs, reached new heights.

We could see that momentum resurface again soon, and it may become stickier as the concept becomes increasingly tied to the Metaverse theme.  With that in mind, we take a look below at one of the hottest and most interesting players in the equities market with strong NFT exposure ZKIN.

ZK International Group Co., Ltd’s (NASDAQ:ZKIN) and its subsidiary xSigma Collectibles (“xSigma”) announced that MaximNFT, an NFT marketplace launched by xSigma in exclusive partnership with Maxim magazine, will publicly launch its beta on November 29th. A host of sports superstars, including Matt Carpenter, Jerami Grant, and Quinton “Rampage” Jackson, will launch their exclusive NFT collections on the platform. Jon Orlando, CEO of MaximNFT comments, “we’ve completed our closed beta testing, and have received a lot of positive feedback and as a result we will be doing a soft launch on November 29th to test the technology and host several NFT drops in the nearest time. In addition, during the next couple of months, we plan to announce additional big names to the NFT space using the MaximNFT brand.”

ZKIN is currently trading at mere 1.42$ and seems to be extremely cheap compared to other stocks in the NFT space. As always, follow traders vigilance. 

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Published by Nicholas Maithya

Nicholas is a Financial Analyst by profession, who enjoys writing about investments, technological developments, business, economics and other financial topics at various financial publications. Join him here on Wallstreetpr.com as he endeavors to deliver to you the latest breaking news on the above mentioned fronts. Contact him by email at nmaithya@gmail.com or follow Nicholas Kitonyi @nmaithyak on Twitter.

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