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Seeking Alpha 2021-11-23 21:27:15

Mattel Gains New Revenue Source From Hot Wheels NFT Collection

Mattel entered the NFT arena with its own digital NFT Hot Wheels collection.The NFT drop was a huge success with the packs selling out within the hour.Hot Wheels NFT packs and ultra-rare cards quickly gained in value on the secondary NFT marketplaces.Mattel recently reported some of its highest quarterly revenues to date and its stock price has been on a one-year uptrend with gains of 50%.I rate the stock as neutral for now and recommend that investors watch the company and the NFT collectables market.

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