Online art picture brightens: Takung Art and Oriental Culture soar
18/03/2021 14:16
** U.S. shares of Takung Art TKAT.N and shares in Oriental
Culture Holding OCG.O were soaring on Thursday, adding to
gains from earlier in the week as investors focued on companies
that deal in online art
** U.S. shares of Takung which operates an electronic online
trading platform for art, were last up 49% at $33.61 after
rising as high as $40.54 with trading volume already around
twice the 10-day moving average.
** Takung, which is also listed in Frankfurt, was halted for
volatility several times in early trading. It has seen its
shares rise 728% in the last five sessions
** Shares in OCG were up 35.5% on Thursday with high trading
volume after rising 200% over the last five sessions
** The online provider of collectibles and artwork
e-commerce services last traded at $14.36 after climbing as high
as $17.00. The stock had closed last week at $4.22.
** Trading volume for OCG started to accelerate sharply on
Monday with just under 46 million shares changing hands that day
making for a record session since it first started trading in
mid-December
** On Thursday morning OCG volume was already at 2.3 times
10-DMA
((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))