Herborium Group Inc. (OTCMKTS:HBRM) shares were down 9% and have lost 30% in a week. The botanical therapeutics products, interactive, and personalized medical products provider has announced its capabilities enabling cryptocurrency transaction with BTC being the first coin accepted.
On Thursday, HBRM stock fell 9.09% at $0.0005 with more than 258.62 million shares, compared to its average volume of 66.45 million shares. The stock has moved within a range of $0.0004 – 0.0006 after opening the trade at $0.0006.
Announces Crypto Currency Capabilities. Expands Revenue and Partnerships Potential
The company joins a growing number and diverse companies that support cryptocurrency uses, such Overstock, Microsoft, Burger King, AT&T, JC Penny, and Norwegian Air. These companies either use BTC directly or indirectly to facilitate financial transactions.
Interestingly, Herborium plans to adopt both BTC credit cards and other cryptocurrencies transaction types to create more revenues. As a result, this will prepare the company for the expected international expansion and bolster possible partnerships with others going forward. In addition, the company’s core business model leverages internet-based and digital technologies to enrich and expand the user base and cryptocurrency use since crypto adoption is gaining traction, which is a natural step directly supporting future growth. Therefore, in the coming weeks, investors should keep an eye on HRBM.
HBRM stock is trading below the 20-Day and 50-Day Moving averages of $0.0008 and $0.0010 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0014. The stock is down 55% in the past month.