Shares of WISeKey Rose Significantly Today

It may be a small business that is great – or even simply jumping on NFT bandwagon; either way, investors appeared to be pleased.

WISeKey (NASDAQ: WKEY), a cybersecurity company located in Zug, Switzerland, announced it is developing a software for non-fungible tokens (NFTs), which may be employed to authenticate real and digital items of value thursday.

The most in TradingView’s price history dating back into 2019 within hours associated with the statement, its U.S. stocks, listed on Nasdaq, had soared significantly more than 80per cent in expense.

The cost move is uncommon for WKEY, which was nevertheless exchanging below its high that is 52-week of18.49 during the time of writing. Additionally the company is reasonably tiny, with a market cap of only $244 million, even after Thursday’s price surge – though it is not just a Pink Sheets penny stock either so it’s not quite a blue-chip.

However the market reaction is unsurprising considering that NFTs have become extremely popular recently, producing millions for electronic designers and celebrity that is reaching virtually immediately. And based on Reuters, all sorts of NFT-related shares are jumping.