There was a time when HUMBL Inc (OTCMKTS:HMBL) had been one of the more in demand stocks in the microcap segment and had emerged as one of the better performers. That had happened at the beginning of 2021 but in recent times the situation has been somewhat different and hence, investors perhaps need to get a new perspective.
Trading Data
On Friday, HMBL stock moved down 3.78% to $0.15 with more than 6.65 million shares, compared to its average volume of 11.86 million shares. The stock moved within a range of $0.1470 – 0.1529 after opening trade at $0.1471.
Recent Developments
In the past week, the HUMBL stock has been in the middle of a remarkable selloff and has tanked by as much as 38% as a consequence. In this situation, it could be a good move from investors to take a look at the key development from back on February 14.
However, the news on February 14 was a significant one as HUMBL announced that it had managed to complete the acquisition of blockchain tokenisation, mobile identification and verifiable credentials platforms that had been owned by BizSecure.
It goes without saying that the transaction was a significant one considering the fact that the partners at BizSecure were awarded as many as 13.2 million shares of HUMBL common stock in addition to 26.8 million units of HUMBL’s restricted common stock. The total valuation of the stock units stood at $6.8 million.
Following the completion of this acquisition, the company is going to establish a new division altogether named HUMBL Blockchain Services. This division is going to be responsible for delivering and introduction blockchain solutions to governments and corporations. While the developments were significant, it did not generate any kind of optimism from among investors and over the past week it has suffered from a major selloff.
It is now going to be interesting to see if the stock can actually make a comeback when the markets open. At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and watch for any signs of recovery.
Technical Data
HMBL stock is trading below the 50-Day and 200-Day Moving averages of $0.20 and $0.74 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.29.
