At the beginning of the year, the HUMBL Inc HUMBL Inc (OTCMKTS:HMBL) stock was among the most popular penny stocks in the market and clocked massive gains as more and more investors piled on to it in a big way. However, things have not been as great after HUMBL hit its 52-week high.
Since then, the stock has declined by as much as 85% and on Monday, the downward spiral continued as the stock tanked by 20%. There was no news about the company on Monday but it might be worthwhile for investors to take a look at a major development from last Friday.
Key Things To Note
On May 7, the company announced that it signed a binding term sheet with regards to the acquisition of Monster Creative LLC. It was a significant announcement from the company and must have caught the attention of investors as well.
It should be noted that Monster Creative is involved in producing creating advertising for the entertainment industry and has gone on to become one of the better known operators in that space. The company had been founded by two veterans of the advertising industry, Kevin Childress and Doug Brandt.
As per the terms of the agreement between HUMBL and Monster Creative, the latter is going to operate its Hollywood studios as an independent business. However, the company is going to collaborate with HUMBL when it comes to the creation of multimedia NFTs (non fungible tokens). In recent times, NFTs have become extremely popular in the creative industries and hence, it might prove to be a sound move from HUMBL in the long run.
On the other hand, Monster Creative is also going to help HUMBL with regards the creation of ticketing experiences for a range of events starting from those in sports and gaming to music and fashion. Despite the decline recorded by the stock in recent days, it might still be worthwhile to keep an eye on the HUMBL stock.
Investors are almost always on the lookout for stocks that might have clocked impressive gains within a short period of time and hence, it might be a good idea to perhaps look into the Green Globe International Inc (OTCMKTS:GGII) stock.
GGII stock is up by 25% this morning at $0.0578. Moreover, this past Friday, the stock was on fire and had managed to end the day with gains of as much as 84%.
As a matter of fact, the stock had clocked gains of a staggering 2525% during the course of the past three weeks alone. That being said, it is also necessary to point out that there has been no recent news about the company that could have triggered the rally on Friday.
The major development with regards to the company was last month when Green Globe announced that back on March 22, it had managed to successfully conduct the private sale of a total of 100 Series A preferred shares to The Hempacco Co Inc. As a result, the control of the company passed on to Hempacco. Since then, the stock has continued to soar as more and more investors piled on to it in a big way. However, that was not all.
The company also announced that a new board of directors had also been appointed and it was going to be led by the Hempacco Chief Executive Officer Sandro Piancone. On the other hand, Green Globe also applied to the OTC Markets in order to get access to the disclosure and information systems in order to submit the missing reports as well as for providing information with regards to the new owners of the company. The whole process of submitting information to the OTC Markets might take between three to four weeks. Hempacco is involved in disrupting the tobacco cigarettes industry with its own products like herb cigarettes and CBD cigarettes among others.