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.
Earlier this year, the HUMBL Inc (OTCMKTS:HMBL) stock emerged as one of the major gainers from among penny stocks this year. In recent times, the HUMBL stock has made much steadier progress but yesterday it was back in action and jumped by as much as 9.5% after the company made a major announcement.
The company revealed yesterday that Brian Foote, its Chief Executive Officer, decided to retire as many as 9350 shares of the company’s Series B Preferred stock that is owned by him. However, it is perhaps more important for investors to keep in mind that those shares are equivalent to as many as 93,500,000 shares of the company’s common stock.
Considering the reduction of the number of common stocks to such a degree, it came as no surprise that the HUMBL stock experienced a surge yesterday. At the time the request was submitted by the company, the market value of those shares stood at $100,000,000.
However, in this regard, it is perhaps also necessary for investors to keep in mind that the HUMBL CEO had earlier retired as many as 551,669,335 pre-split common shares in the company. Those shares had actually come from the share float as in November last year. On the other hand, any prospective investor needs to note that in recent months HUMBL has come into considerable focus due to the growth of its mobile payments business. The service has gained considerable traction on an international scale over the past months.
Earlier in the year, the HUMBL Inc (OTCMKTS:HMBL) stock had been one of the biggest gainers from among penny stocks but things have been quite different in recent months.
This past Friday, the stock jumped by 5% and that took its correction from its recent peak to as much as 25%. While that is true, it is also necessary for investors to remember that since hitting its low in May, the HUMBL stock has recovered strongly and gone up by 50%. There was no news about the stock on Friday that might have actually led to the decline but it might be a good time to look at some recent developments.
Earlier on this month, HUMBL announced that it had acquired well-known South America focussed ticketing platform Tickeri Inc. The acquisition was made in a deal worth as much as $20 million and it was facilitated through a combination of debts and stock. It is a significant development for HUMBL considering the fact that it will now be able to integrate its own services like mobile payments and peer to peer remittance services to the Tickeri platform.
That will help the company in expanding its services to a new market altogether. However, HUMBL is also planning to expand Tickeri internationally.
This month the company had also announced that it hired the services of Athletes First in the form of a strategic consultant. Athletes First is going to help HUMBL in relation to its various new business verticals including the one involving NFTs or non-fungible tokens.
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.
At the turn of the year, the HUMBL Inc (OTCMKTS:HMBL) stock was one of the biggest gainers among penny stocks but it has corrected quite sharply in recent times. However, on Monday, the HUMBL stock moved sharply and ended up making gains of 9.5%.
Could it be the start of another uptrend in the stock? The latest gains made by the stock were triggered by an announcement from the company yesterday. In recent times Non-Fungible Tokens (NFTs) have become hugely popular and HUMBL announced the launch of its own NFT named Gallery yesterday. It is a significant new step from the company and one which sparked optimism among investors too.
The NFTs will be made available to interested customers on the website HUMBLpay.com. The gallery is going to allow content developers to create their own NFTs to protect their interests and consumers will be able to purchase them from the website.
While it is true that HUMBL has been primarily involved with mobile payments, the company has also created a digital assets platform which is meant for blockchain based tokenization. The tokenization is aimed at real world use cases like ticketing, financial services, payments and NFTs among others.
The new NFT is going to be entirely focussed on artists, content creators and assorted entertainers across a range of fields like fashion, gaming, sports, photography and music among others. The first HUMBL NFT Gallery is going to be made up of a collection of photographs from Jared Raskind and Andrew Small.
Both photographers have been in the business for a long time and over the course of the past decade, the duo has developed collections that are meant for private groups as well as the larger public. It goes without saying that it is an important step for HUMBL and could bring about considerable revenues in the long term.