After the company made a key announcement on Monday, the Himalaya Technologies Inc (OTCMKTS:HMLA) emerged as one of the notable gainers and ended the day with gains of as much as 8%. In light of such gains, it may now be a good time for investors to consider taking a closer look at the announcement from Himalaya Technologies yesterday.
Trading Data
On Monday, HMLA stock jumped 8.33% to $0.0013 with more than 10.4k shares, compared to its average volume of 629k shares. The stock has moved within a range of $0.0013 – 0.0013 after opening trade at $0.0013.
HIMALAYA INVESTS IN GENBIO TO PROMOTE GLOBAL WELLNESS; PLANS “FOMO CAN”
The company announced yesterday that it had reached an agreement with regards to a 19.9% share exchange with GenBio Inc. However, that is not all. In addition to the share exchange, the companies are also going to collaborate on a wide variety of products including canned beverage which are marketed as wellness items.
In light of the latest announcement from the company, it should be noted that the collaboration is primarily going to be focussed on the development of products which boost immunity. That market is growing at a remarkable rate and research suggests that the market could generate average annual growth of as much as 7% in the period from 2021 through to 2028. By 2028, the size of the market could go past $31 billion. Hence, it may be a good move for investors to add the Himalaya Technologies stock to their watch lists at this point.
Key Quote
Giles Tilley, GenBio CEO, stated that “these unfamiliar extracts are largely unknown in the U.S. market yet have been extensively studied in Australia and have already been subject to rigorous scientific evaluation and peer-reviewed publications.” Some have also been brought to the U.S. for further review and as yet are under confidential research, with ground-breaking new discoveries as to their potential to advance human longevity. The timing is paramount, with a real need for all the world to boost their immune systems during the ongoing, persistent pandemic.”
Technical Data
HMLA stock is below the 20-Day and 50-Day Moving averages of $0.0019 and $0.0024 respectively. However, the stock is trading above the 200-Day moving average of $0.0063. The stock is down 31% in the past month.
