Humbl (HMBL) Stock Moves Towards $1: Should You Hold Or Sell?
At the beginning of the year, the HUMBL Inc HUMBL Inc (OTCMKTS:HMBL) stock was among the most popular penny stocks in the market and clocked massive gains as more and more investors piled on to it in a big way. However, things have not been as great after HUMBL hit its 52-week high.
Since then, the stock has declined by as much as 85% and on Monday, the downward spiral continued as the stock tanked by 20%. There was no news about the company on Monday but it might be worthwhile for investors to take a look at a major development from last Friday.
Key Things To Note
On May 7, the company announced that it signed a binding term sheet with regards to the acquisition of Monster Creative LLC. It was a significant announcement from the company and must have caught the attention of investors as well.
It should be noted that Monster Creative is involved in producing creating advertising for the entertainment industry and has gone on to become one of the better known operators in that space. The company had been founded by two veterans of the advertising industry, Kevin Childress and Doug Brandt.
As per the terms of the agreement between HUMBL and Monster Creative, the latter is going to operate its Hollywood studios as an independent business. However, the company is going to collaborate with HUMBL when it comes to the creation of multimedia NFTs (non fungible tokens). In recent times, NFTs have become extremely popular in the creative industries and hence, it might prove to be a sound move from HUMBL in the long run.
On the other hand, Monster Creative is also going to help HUMBL with regards the creation of ticketing experiences for a range of events starting from those in sports and gaming to music and fashion. Despite the decline recorded by the stock in recent days, it might still be worthwhile to keep an eye on the HUMBL stock.
88 Energy Limited (EEENF) Stock Is In Focus As It Trades Sideways
Oil and gas company 88 Energy Limited (OTCMKTS:EEENF) had seen its stock collapse last month following an announcement with regards to an outage. However, it did recover following another operational update.
Key Updates
At this point in time, the stock has been trading within a range and that has been the case for the past few weeks. Such a state of affairs can also lead to a breakout eventually and hence, it might be a good move from investors to perhaps take a closer look at 88 Energy.
The stock tanked as much as 90% at one point last month after the company announced that there was an equipment failure induced power outing. More importantly, the outage affected the company’s operations at two of its highest prospect zones. The announcement triggered a major selloff in the stock.
The zones in question are part of the Alaskan Peregrine project that the company is pursuing at this point. While it is true that the update about the outage had led to the selloff, another update made some days later about the positive operational results from its drilling activities in Alaska helped in a strong rebound.
The company announced that it started testing for sidewell cores, cutting and mud gas at the high prospect zones. The announcement had been made by the company back on April 27 and at the time, 88 Energy noted that the complete results were going to be announced at any time between two to ten weeks.
Investors are almost certainly looking forward to the test results before making up their minds about the prospects of the company. That might be another reason why the 88 Energy stock is currently trading within a range. On the other hand, uncertainty and anticipation can also lead to considerable volatility, according to experts. At this point, it might be a good idea for investors to keep a close eye on the stock and any announcements from 88 Energy.