Cinedigm (CIDM) Gains on Plans to Enter NFT Market

March 25, 2021 9:20 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Cinedigm (NASDAQ: CIDM) gains 13% in pre-open trade after disclosing it is entering the NFT market.

Yesterday, the company made the following disclosure on Twitter:

“1/ $CIDM We have had numerous inquiries about our involvement in the #NFT market. Cinedigm is excited about the rise in consumer adoption and commercial prospects for #NFT. Given our extensive film library, deep connection to fandom and collectibles, and

2/ $CIDM's strong brand partnerships and technology capabilities, I have directed our product team to develop new NFT products to enhance the user experience of our loyal audiences.

3/ $CIDM To be clear, these new #NFT initiatives are to support our core mission: creating great streaming channel and content experiences for our passionate user base. More to come. - Chris McGurk, CEO”

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News, Momentum Movers, Trader Talk

Related Entities

Twitter, Pre Market Movers