The Hero Technologies (OTCMKTS:HENC) stock emerged as one of the major movers last week despite there being no news about the company. However, the magnitude of the gains clocked by the stock might make it necessary for investors to take a closer look at the company.
This past Friday the stock continued to attract interest from investors and ended the day with gains of 24%. That took its gains for the whole of the previous week to 38%. Although there was no news it might be a good time to take a look at a development with regards to Hero Technologies from back in April this year.
At the time, the company, which has adopted a vertically integrated strategy, announced that its subsidiary company BlackBox Systems and Technologies LLC got the crucial zoning approval related to cannabis cultivation. The zoning approval was for the property in Michigan that stretches across an area of as much as 120 acres.
At the time, it was announced that BlackBox was looking to acquire that property for a consideration of $150,000. It should be noted that at the time the property or the company had not been awarded the cannabis license by the Michigan Regulatory Authority.
