It was a pretty hard time for investors in the Healthier Choices Management Corp (OTCMKTS:HCMC) stock last week as it suffered from a major selloff. Over the course of the previous week, the Healthier Choices Management stock tanked by as much as 25% and it now remains to be seen if the stock can actually make a recovery this week.
In this context, it may be important for investors to remember that the current troubles for the stock had been triggered by fresh developments with regards to the company’s patent infringement lawsuit against the tobacco giant Phillip Morris.
Back in July, Healthier Choices Management suffered a setback after the motion to dismiss the lawsuit was granted by the judge to Phillip Morris. However, at the same time, Healthier Choices Management was also granted a period of 14 days within which it could file an amended lawsuit.
The company duly sent in the filing. Hence, the patent infringement case is still in play and all is not yet lost for Healthier Choices Management. However, investors seem to have been a bit spooked about the whole thing and that might have been reason behind the selloff last week. It is going to be interesting to see if the stock can recover this week.