HOFV Stock: Embrace the NFT Revolution With Hall of Fame investorplace.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investorplace.com Daily Mail and Mail on Sunday newspapers.
Author Bio
What happened
Shares of
Hall of Fame Resort & Entertainment (NASDAQ:HOFV) dipped 18.3% in April, according to data from S&P Global Market Intelligence. The stock has posted big gains thanks to excitement surrounding its entry into non-fungible tokens (NFTs), but the NFT craze seemed to cool off a bit last month, and some companies with substantial exposure to the space saw their valuations pull back.
Hall of Fame Resort & Entertainment s core business revolves around football-related resort and entertainment experiences, but the company s push into the NFT space has actually been generating more excitement. The stock soared 119% in March s trading amid expectations that the company s connection to the Pro Football Hall of Fame would aid its push in the NFT space. However, there wasn t any major news on that front last month, and it looks like the bulls are taking a breather after the big gains.