Is Cinedigm a Good NFT Stock to Own? By StockNews

© Reuters. Is Cinedigm a Good NFT Stock to Own?

Leading entertainment content and streaming channels provider Cinedigm (NASDAQ:) has garnered significant investor attention lately because of its plans to expand its exclusive NFT offerings and a deal to launch a new channel. However, the company’s poor profitability does not justify the stock’s lofty valuation. Moreover, given the increasing risks associated with the NFT investment frenzy, would it be worth betting on the stock now? Read more to find out.A leader in digital entertainment streaming, Cinedigm Corp. (CIDM) operates as a distributor and aggregator of independent movie, television, and other short-form content in the United States, Canada, and New Zealand. The stock has gained 25.2% over the past three months, driven by the company’s recent deal with All3Media International to launch The Only Way Is Essex (TOWIE) channel and its plans to expand its exclusive NFT offerings.

However, closing Friday’s trading session at $1.99, CIDM’s stock is trading 14.6% below its 52-week high of $2.33. In addition, the company has recently received a notice from Nasdaq indicating its non-compliance with the Nasdaq Listing Rule. Moreover, even though CIDM’s investment in the leading entertainment platforms has attracted investors’ interest, weakening NFT enthusiasm could be concerning.

Here is what could influence CIDM’s performance in the upcoming months:

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