Earlier in the year, HUMBL Inc (OTCMKTS:HMBL) had emerged as one of the more popular companies for those who were interested in penny stocks. The stock delivered strongly as well.
However, in recent weeks, the situation has been a bit different for the HUMBL stock. Last month the stock had actually hit a new log but eventually, it managed to bounce back and rally by as much as 100%. However, last week the HUMBL stock had another disappointing run and ended the week with declines of 15%. There was no specific news about the company last week but it might be worthwhile to take a look at some of the important developments.
Earlier in the month the company announced that it had completed the acquisition of the Latin America-based ticketing platform Tickeri Inc. HUMBL completed the acquisition in a deal that was worth $20 million and it was facilitated in the form of both debts as well as stock. It gives HUMBL a gateway into providing Latin American customers with mobile pay services and peer-to-peer remittance services in addition to ticketing. The company will add its services to the Tickeri platform and eventually there are plans to look for international expansion.
While the acquisition of Tickeri is an important development for the company, it should be noted that HUMBL has been working on a range of fronts in recent times. Last month the company announced a move into the non-fungible token (NFT) space as well and that had created a fair amount of buzz as well.
The NFT space has grown at a breakneck pace in recent times and hence, HUMBL’s move to come up with an NFT gallery could also be seen as an important one. The NFTs are meant for creators by way of which they can protect their interests. It remains to be seen if the stock can recover this week.