Healthier Choices Management Corp (OTCMKTS:HCMC) fell 12% last week. The micro-cap stock has been among the stocks that have made considerable gains this year, gaining almost 700% since the start of the year.
Despite the gains, the stock has been on a downward trend in recent weeks. The trigger for the stock surge early this year was attributed to the patent infringement lawsuit the company had filed against Phillip Morris. The company faced a setback following the rejection of the case on July 23. However, the company received a 14-day allowance to file a revised suit.
Recently the company announced its Q2 2021 financial results in which it delivered string adjusted EBITDA results with a YoY improvement of 20%. Net loss from operations was $685,000 reflecting a 145 YoY improvement, and for the six months ending June 30, 2021, net loss was $1.2 million, a 17% YoY improvement. In addition, the company reported sales growth with a 7% gain in gross profit compared to a year ago. So, in the coming weeks, HCMC is worth watching.
Market Reaction:
On Friday, HCMC stock fell 7% at $0.0007 with more than 2.06 billion shares, compared to its average volume of 432.19 million shares. The stock has moved within a range of $0.0006 – 0.0008 after opening the trade at $0.0007.
