HCMC Stock: Healthier Choices Management Stock Breakout Imminent?
The Healthier Choices Management Corp (OTCMKTS:HCMC) stock was back in action yesterday after the company announced the expiration of its rights offering. The announcement from the company resulted in greater interest in the Healthier Choices stock and it ended the day with gains of around 4%.
As per the announcement from the company about its rights offering in the past, investors were entitled to pick up common shares in the company for a subscription price of $0.0010 a share. They represented a 25% discount on the share price, but the rights are no longer exercisable as the offering expired yesterday.
However, it should be noted that the whole thing turned out to be a quite lucrative for Healthier Choices. The company announced that the total number of subscription rights that were actually exercises added up to around 27 billion shares.
That is a staggering figure and on top of that, initial estimates suggest that Healthier Choices is going to get gross proceeds of as much as $27 million from the right offering. It is necessary for investors to keep in mind that the final amount that is going to be received by the company from this offering is yet to be finalised and is going to be verified by the subscription agent.
The announcement of the closing of the rights offering was an important one for Healthier Choices since last month there had been some confusion with regards to the date. Some of the brokerage houses had offered dates which were earlier than the original closing date and eventually Healthier Choices had to extend the deadline.
In addition to that, even after the extension, the deadline set by different brokers continued to be different, and earlier this month, the company sent out a press release specifying the different deadline dates offered by different brokerage houses. However, the whole thing is now closed and it is going to be interesting to see if the Healthier Choices stock can add to its gains today or not.
Torchlight Energy (TRCH) Stock Is About To Hit New Highs: A Breakout?
Investors are often known to look for stocks that have managed to deliver strong gains over a reasonably long period of time and such an approach is understandable considering the short-term volatility in certain stocks.
By that token, it could be a good move for investors to start tracking the Torchlight Energy (NASDAQ:TRCH) stock, which has emerged as one of the major gainers in the past six months and clocked gains of 550% during that period. The stock has been on the move in the premarket trading period this morning and has gone up by as much as 33% at the time of writing.
The latest rally in the stock has been triggered by an announcement from the company about a special dividend after the closure of markets yesterday. The dividends are on Torchlight Energy’s Series A preferred shares which are related to its merger transaction with Metamaterial. The company also revealed that those who hold common shares in Torchlight as of June 24, 2021, will receive one Series A preferred share in the company.
The announcement led to a flurry of activity in the company’s stock and it was no surprise that the Torchlight stock jumped yesterday. It is also important to point out that the company expects its merger deal with Metamaterial to be closed before the end of June.
While the announcement might have been a trigger for the rally in the stock during premarket trading period this morning, it is also important to note that the stock seems to have caught the attention of retail traders on the social media platform Stocktwits.
In other words, the stock might have entered the group of ‘meme stocks’ that might now be the target of retail investors. Over the course of the past 24 hours, the stock had the third-highest number of mentions and was only behind AMC Entertainment and Ocugen, the two other noted ‘meme stocks’.