There was a time when the HUMBL Inc (OTCMKTS:HMBL) stock was one of the more sought after penny stocks in the market but things have changed for the company in recent times.
Trading Data
On Friday, HMBL stock increased 6.15% to $0.0535 with 7.16 million shares, compared to volume of 8.68 million shares. The stock moved within a range of $0.0485 – 0.0540 after opening trade at $0.0505.
Recent Developments
Over the past few days, the stock has been in the middle of a downtrend and it could be a good time for investors to figure out if the stock could make a recovery or not. The last time the company was in the news was earlier this month on August 11 when it announced that it had completed a definitive agreement with regard to the acquisition of Agora Digital Holdings Inc.
Agora is a blockchain technology firm and is involved in the lucrative Bitcoin mining space. EcoarkHoldings, is the majority shareholder in Agora. At the time, it was announced that Ecoark and its management team would need to raise as much as $10,000,000 in form of capital for HUMBL for the transfer of ownership to take place.
Those who own Agora Digital are going to be provided with a new category of preferred stock worth as much as $60,000,000 for selling off their shares in the company. HUMBL noted that it would come up with more details at an appropriate time.
Technical Data
HMBL stock is trading below the 20-Day and 50-Day Moving averages of $0.0623 and $0.0678 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1841. The company has a total market capitalization of $85 million.
