After going through a significantly big rally, a stock can often go through a correction and that is what seemed to have happened with the Axis Technologies Group Inc (OTCMKTS:AXTG) stock on Tuesday.
The stock corrected sharply yesterday and went down by as much as 10%. However, at the same time, it is necessary for investors to keep in mind that the Axis Technologies stock is still up by a staggering 275% over the course of the past week. The company is primarily involved in the decentralised finance and blockchain development spaces. However, last week, Axis Technologies announced that it was getting into the NFT or non-fungible token space.
Axis Technologies announced that it had got the necessary permissions with regards to the creation, marketing and sales of premium high value NFTs through its own platform named ETHFUND.
Some of the NFTs are going to be linked to such potentially high value items like baseballs signed by such legendary baseball players as Roger Maris and Babe Ruth among others. NFT has emerged as one of the more lucrative spaces in the blockchain industry this year and Axis Technologies’ entry into that space seems to have created considerable excitement among investors.