At the turn of the year, HUMBL Inc (OTCMKTS:HMBL) was one of the most popular penny stocks in the market and recorded enormous gains on the back of heavy interest from investors.
However, the stock has given up as much as 22% of its gains over the course of the past month and has now gone below the psychologically important level of $1 a share. In this situation, it is perhaps important for investors to figure out if it might be an opportunity to get into the HUMBL stock. Earlier in the month, it was announced that the Chief Executive Officer of the company Brian Foote decided to retire as many as 9350 Series B preferred shares in HUMBL that he owned.
It was a significant move considering the fact that those shares are equal to as many as 93,500,000 shares of the HUMBL common stock. A reduction in the number of shares can sometimes lead to a spike in the share price and hence, it is a development that might have a long-term effect on the HUMBL stock one way or another.
The total value of the shares when the request was sent in by Foote stood at $100,000,000. In this context, it is also necessary for investors to keep in mind that it was not the first time that Foote decided to go for such a move. Back in November last year, he had retired as many as 551,669,335 pre-split shares of the HUMBL common stock from the float.
This morning many investors are going to be looking into stocks that recorded considerable gains last week and by that token, it is likely that the Relief Therapeutics Holding AG (OTCMKTS:RLFTF) stock is going to be one of those. The stock recorded gains of 25.50% this past Friday and ended the week with cumulative gains of as much as 57%.
Hence, it might be a good idea to actually keep an eye on the Relief stock this morning. The rally in the stock was brought about by a press release from the company’s collaboration partner NRx Pharmaceuticals last week. In the press release, the company provided information about a key milestone regarding aviptadil, the product on which the two companies are working.
NRx revealed that a commercial formulation of aviptadil that could be put to intravenous use had been validated. That is a major development since the company will now start preparing for industrial-scale manufacturing of the product. It was also noted that the aviptadil that is going to be commercially manufactured will also have the stability of a year or more as long as it is stored in ideal conditions.
On the other hand, NRx has also managed to boost its manufacturing capacity and is in a position to boost the manufacturing lot size of aviptadil by 30 to 50 times. It was a major development and it was no surprise that the Relief Therapeutics stock moved in such a big way. It remains to be seen if the stock can continue to add to its gains today.