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.
