This morning investors may be inclined to track the Healthier Choices Management Corp (OTCMKTS:HCMC) stock after the company released a letter to its shareholders yesterday in which it outlined the ways in which it seeks to boost shareholder value. Healthier Choices came up with a four point plan for the same and it could be a good move to take a look into it.
Trading Data
On Monday, HCMC stock ended flat at $0.0002 with more than 740.68 million shares, compared to its average volume of 205.09 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trading at $0.0002.
HCMC Announces Four-Point Plan To Increase Shareholder Value – Update
One of the steps that the company is going to go for is a share buyback program by way of which it would buy back $5,000,000 worth of Healthier Choices stock. Another step is to spin some of the assets in Healthier Choices into a separate company, which is going to be publicly traded as well.
Once the new company is spun off, Healthier Choices shareholders are going to receive a stock dividend in it. The date for the same is going to be determined but the entirety of the stock issued in the new company is going to be issued as dividends.
However, that is going to be determined by some of the conditions pertaining to the dividend policy. Last but not the least, Healthier Choices is also going to raise equity capital from institutional investors in order to improve the fund position of both companies.
Technical Data
HCMC stock is trading above the 20-Day and 50-Day Moving averages of $0.0002 and $0. 0002 respectively. Moreover, the stock is trading above the 200-Day moving average of $0. 0002. The company has a total market capitalization of $68 million. The stock is down 5% over the past 6 months.
