HUMBL (HMBL) Stock Sees Profit Booking: Will The Rally Resume This Week?

Yesterday, HUMBL announced that it got into collaboration with Athletes First in order to develop new lines of businesses like ticketing, digital marketing and non-fungible tokens (NFTs).

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Last week the HUMBL Inc (OTCMKTS:HMBL) stock was one of the major gainers and ended up clocking gains of as much as 100%. However, the situation has been markedly different this week and yesterday; the stock actually went down by 7%.

It is now important for investors to figure out if the correction in the HUMBL stock could be a fresh opportunity for investors. Hence, it is necessary to take a closer look at the company. Yesterday, HUMBL announced that it got into collaboration with Athletes First in order to develop new lines of businesses like ticketing, digital marketing and non-fungible tokens (NFTs).

Athlete First is one of the leading lights in the sports agency business and over the past decades it has represented broadcasters, NFL players, coaches and executives. By way of this collaboration, the agency is going to help HUMBL in delivering high quality white glove services to its some of its selected clients in the fields of entertainment and sports.

However, there have been other recent developments as well that investors need to keep in mind when analysing HUMBL. Back on May 25, the company had announced that it closed two new financing that brought in a total of $2500000.

The fresh capital is meant for being a bridge as HUMBL readies for equity financing to the tune of $50000000. The round of investment that had been attracted by the company also included participation from entities based out of Australia and the United States. The company has been busy over the past month or so in making deals and collaborations.

In early May, HUMBL was in focus after it announced that it completed the acquisition of the well-known creative advertising firm named Monster Creative LLC. Monster is going to operate independently but it is going to help HUMBL with the creation of multimedia NFTs. The company has moved into NFTs in a decisive manner in recent times.