On Thursday, the Healthier Choices Management Corp (OTCMKTS:HCMC) stock was in significant focus among investors and ended up as one of the biggest gainers as it ended the day with gains of as much as 18%. Considering the magnitude of the gains, it might be a good move for investors to take a look at the announcement from the company yesterday.
Trading Data
On Thursday, HCMC stock gained 17.50% to $0.0002 with more than 361.78 million shares, compared to its average volume of 498.23 million shares. The stock moved within a range of $0.0002 – 0.0003 after opening trade at $0.0003.
Healthier Choices Announces the Acquisition of Mother Earth’s Storehouse
Healthier Choices Management Corp announced yesterday that it had completed the acquisition transaction for Mother Earth’s Storehouse. It is a natural and organic health food and vitamin items chain that operates in Hudson Valley in New York.
It is a major new acquisition for the company considering the fact that Mother Earth’s Storehouse is regarded as the premium natural foods destination for anyone in Hudson Valley. Hence, it was perhaps no surprise that there was such optimism about the Healthier Choices Management Corp stock after the announcement was made yesterday.
In addition to that, the acquisition is also aligned with the line of business that Healthier Choices Management Corp is involved in. At this point in time, it is going to be interesting to see if the stock can add to its gains over the course of the coming days.
Key Quote
Jeffrey Holman, CEO of HCMC made this statement regarding the acquisition, “Mother Earth’s Storehouse is a major step forward in our growth initiatives, and based upon past performance, we believe this addition should roughly double HCMC’s top line revenue on an annualized basis.”
Technical Data
HCMC stock is trading above the 20-Day and 50-Day Moving averages of $0.0002 and $0.0002 respectively. However, the stock is below 200-Day moving average of $0.0004.
