Is HUMBL (HMBL) Stock All Set To Rebound After The Recent Panic?
Up until a few months ago, the HUMBL Inc (OTCMKTS:HMBL) stock was one of the biggest gainers from among penny stocks and had been on the radars of most investors who are interested in penny stock investment.
However, things have not been the same in recent times and it is in this sort of situation in which investors could consider taking a closer look at the HUMBL stock. Last week, there had been no news about the company at all on May 12 but even then the stock suffered from a selloff and the stock tanked by 12%.
The stock has declined sharply and given up as much as 86% since hitting its highest level in 52 weeks. However, despite the decline, it is important to point out that the HUMBL stock is still up by 70% in 2021 so far. The company is engaged in the fast growing digital payments space and is primarily involved in creating mobile apps for the same. In December last year, the company went public by way of a merger with Tesoro Enterprises. Since the merger, the stock had gone on a remarkable rally and emerged as one of the biggest gainers in the market.
The massive rally during that period is possibly the reason why it is falling now. Over the course of the past month, the stock has declined by 66% and by 83% during the past three months. Experts believe that the original rally in the stock earlier on this year had been speculative in nature and the changing trends in the market have resulted in a selloff in HUMBL. It is important to point out that in recent weeks, investors have been winding down their positions in speculative stocks and also in their investments in companies that are dependent on high growth. HUMBL fulfils both those conditions.
CytoDyn Inc (CYDY) Stock Slips Below $2: Time To Buy?
The CytoDyn Inc (OTCMKTS:CYDY) stock went into a meltdown yesterday after the company got a stinging rebuke from the United States Food and Drug Administration.
On Monday, the FDA rebuked CytoDyn for having been selective with regards to the selection data from the two studies of its COVID 19 treatment leronlimab. The FDA alleged that the company tried to show that the product was effective against COVID 19. Both those studies had in fact been failures.
It goes without saying that the development was a major setback for the company and that was reflected in the price action in its stock as well. The CytoDyn stock tanked by as much as 27% yesterday as investors rushed for the exits.
Earlier on this year in March, the Phase 3 clinical trial of leronlimab had been a failure as the product failed to demonstrate its primary target of reducing the effects of symptoms. It failed to meet all the secondary goals as well.
However, CytoDyn decided to turn its focus on 62 seriously ill COVID 19 patients, who had been given mechanical ventilation and concluded that leronlimab helped in reducing all cause mortality by as much as 24%. The company went on to state that the product could also reduce hospitalisation by six days.
The FDA is usually known for being silent when it comes to products which are not approved, but in an unprecedented move the agency dished out a public rebuke to CytoDyn. The agency said that none of the analyses that had been conducted by CytoDyn had been statistically significant.
The agency also stated that the data did not reveal anything that could support the clinical benefits of leronlimab when it comes to the treatment of COVID 19 patients. The agency also stated how clinical trials work which must have come as a further source of embarrassment for CytoDyn.