Healthier Choices Management Corp (OTCMKTS:HCMC) Stock Sees High Volume: Now What?
Although the market was largely flat on Monday, the Healthier Choices Management Corp stock emerged as one of the few exceptions. Investors flocked to the stock in a big way yesterday and that saw the Healthier Choices Management Corp (OTCMKTS:HCMC) stock ending up with strong gains.
There was no news about the company yesterday but it is clear that investors may have found something that instigated them to get into the stock yesterday. It should be noted that the move in the Healthier Choices Management Corp stock yesterday turned the stock into a ‘double zero’ stock from a ‘triple zero’ stock. Despite the rally in the stock yesterday, it should not be forgotten that the stock has experienced considerable volatility in recent weeks due to the situation with its patent infringement lawsuit with tobacco giant Phillip Morris.
The positivity around the stock may be actually related to the patent infringement lawsuit. Although a court had granted Phillip Morris’ motion to dismiss the case, Healthier Choices had the option of filing for an amended complaint, and this past Friday the company did take up this option.
The patent infringement lawsuit is related to the IQOS device and it has been alleged that the combustion electronic pipe actually infringes on a patent held by Healthier Choices. After the filing of the new complaint, investors are possibly feeling a lot more positive about the community. It now remains to be seen if the Healthier Choices stock can hold on to this momentum and end up adding to its gains.
Healthier Choices Management Corp (OTCMKTS:HCMC) Stock Sees Buying Interest At Lower Level
It was a pretty difficult time for Healthier Choices Management Corp (OTCMKTS:HCMC) as its patent infringement case against tobacco giant Phillip Morris USA was dismissed by the court.
The District Court for the Northern District of Georgia granted Phillip Morris USA’s motion to dismiss the patent infringement case and it came as a severe body blow to Healthier Choices Management. While the stock dropped after the announcement, the situation has changed for the company this week.
The Healthier Choices Management stock has gone off the blocks fairly strongly this morning and has managed to clock gains of as much as 23% already. In this sort of situation, it may be necessary for investors to take a closer look at the decision from the court last week.
At the time it was announced that Healthier Choices Management had fourteen days within which it could file another complaint but after suitable amendments. The company had already announced last week that it was going to file an amended complaint. Over the past months, there had been considerable focus on this patent infringement lawsuit among investors.
There had also been considerable internet chatter about the possibility of a large settlement and such speculation had also resulted in the Healthier Choices Management stock making considerable gains. It is unclear why the stock has rallied this morning but it could be a good idea for investors to keep an eye on the stock and also on the news wires with regards to any specific news.
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.
Healthier Choices Management (HCMC) Stock May Trade Sideways in Absence of Major Catalyst
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.