Key updates from companies can often have a significant impact on the share price and that is what seemed to have happened with the HPIL Holding (OTCMKTS:HPIL) stock on Tuesday.
Trading Data
On Tuesday, HPIL stock soared 25.81% to $0.0019 with more than 232.01 million shares, compared to its average volume of 110.10 million shares. The stock moved within a range of $0.0014 – 0.0023 after opening trade at $0.0015.
Key Details
Yesterday, the stock emerged as one of the major movers and clocked gains of as much as 26% for the day after the company announced that it had been successful in completing its first corporate shares issuance. The move had been mooted by the current management of the company with the view of providing support to the many businesses that are being built by the company.
The businesses are being built since April last year. In the recent past, HPIL had been in complete chaos and turmoil. However, it seems that it is on the path to stabilisation. Today, HPIL is slated to submit its OTC Attorney letter. In addition to that, the company is also making plans for completing its filing by the end of this year. The share issuance is expected to help the company in working through a lot of things.
At this point in time, it may be a good idea for investors to add the stock to their watch lists.
Technical Data
HPIL stock is trading above the 20-Day and 50-Day Moving averages of $0.0018 and $0.0017 respectively. However, the stock is trading below the 200-Day moving average of $0.0036.
