Healthier Choices Management (HCMC) Stock May Trade Sideways in Absence of Major Catalyst
The Healthier Choices Management (OTCMKTS:HCMC) stock has been on the radars of plenty of investors for quite a while. This past Friday the stock experienced a bit of volatility, although the trading volumes were quite high. The Healthier Choices Management stock was in heavy action on Friday and as many as a billion shares in the company were traded during the course of the trading day.
For perspective, investors need to note that the average daily trading volume of the Healthier Choices Management stock stands at only 267 million shares. In recent times, the stock has soared from triple zero levels to double zero ones and that has been another factor behind increased interest.
At this point, Healthier Choices Management has as many as 300 billion shares outstanding but the frenzy around the stock on Friday was triggered by the company’s rights offering. Last week the company had also announced that that it was going to issue a subscription period in relation to that offering.
On Friday, most of the investors who already hold the Healthier Choices Management stock noticed a “422rgt019”pop up in their trading accounts. Initially there was a lot of speculation about the significance of the pop up.
Many believed it might have been related to reverse stock split or a dividend payout. Amidst frenzied speculation, the trading volume in the stock soared to new heights. However, it was later pointed out by other investors that the pop up was related to the announcement made by the company in relation to the rights offering earlier on in the week.
As per the provisions of the rights offering, existing investors in Healthier Choices Management are going to be awarded a solitary right for each block of four shares that they hold. Investors will have the right to pick up shares in the company at a future date.
HIVE Blockchain (HVBTF) Stock is Down 60% From The Peak: But Why?
The collapse in the cryptocurrency space over the course of the past few days has been quite dramatic and it has also brought considerable pressure on the stocks of companies that are engaged in that sector. One such company is HIVE Blockchain (OTCMKTS:HVBTF), which saw its stock come under considerable trading pressure due to the fall in Bitcoin last week.
At this point, the HIVE stock has declined by as much as 60% since hitting its highest levels in 52 weeks in February this year. The stock soared from only 9 cents a share back in January this year to a high of $5.75 a share in February.
In this regard, it is important to note that just like the cryptocurrency sector at large, the HIVE stock also suffers from spells of extreme volatility and it is important for investors to be cautious when dealing with this stock.
Considering the sort of gains it generated earlier this year, it might be worthwhile for investors to keep track of the HIVE Blockchain stock at this point. Moreover, the possibilities of a rebound in the crypto sector could also act as a positive catalyst for a strong rebound for the HIVE stock.
One of the important factors to keep in mind regarding HIVE Blockchain is that the company is committed to clean and responsible cryptocurrency mining operations. At a time when Bitcoin collapsed due to Elon Musk’s tweet with regards to the environmental implications of the world’s biggest cryptocurrency, this is a highly important factor to future success.
The company’s mining activities are run in colder climates since it is not only efficient with regards to costs but also power. Cryptocurrency mining has been criticized for using high amounts of energy and HIVE’s responsible mining operations could make it stand out in a highly competitive industry. It could be a good idea for investors to include the HIVE stock in their watch lists.