Is Investing in NFT Gaming Company Inc (NASDAQ: NFTG) a Good Idea?

The stock price of NFT Gaming Company Inc (NFTG) has experienced a significant increase, with a gain of 17.78% in relation to its previous closing price. Over the last five trading days, the company has seen a remarkable 53.62% gain in its stock price. This rise in stock price aligns with the trend of increased IPO activity during the second quarter, which typically peaks in June.

The public float for NFTG is 9.36M, and short sellers currently hold a 0.50% ratio of that float. On October 9, 2023, the average trading volume for NFTG was 612.26K shares.

Looking at NFTG’s market performance, the stock has witnessed a 53.62% increase in the past week, a monthly gain of 33.20%, and a quarterly decrease of 26.90%. The volatility ratio for the week stands at 15.68%, while the volatility levels for the last 30 days are 18.05%. The simple moving average for the past 20 days is 43.02%, while the past 200 days show a -46.16% simple moving average.

NFTG is currently trading at 6.45% above its 50-day moving average. Despite a previous stumble in the market, resulting in a 52-week low, the stock has not been able to rebound and has experienced a loss of -89.71%.

In terms of insider trading, CEO & Chairman, Mats Vadim, has made several purchases of NFTG shares. Most recently, he purchased 2,750 shares at a price of $0.66 on June 22. Mats Vadim now owns 2,674,423 shares of NFTG, valued at $1,817 based on the latest closing price.

Considering the stock fundamentals, the equity return for NFTG is at -91.96, with -85.61 for asset returns.

In conclusion, the performance of NFT Gaming Company Inc (NFTG) has been mixed recently. Analyst opinions on the stock vary, with some recommending it as a “buy” while others suggest holding. It is worth noting that the stock is currently trading significantly below its 50-day moving average and its 52-week high.

Sources:
– Zacks Investment Research (2023-07-05)