Why Did HUMBL Inc. (OTCMKTS:HMBL) Stock Soar Over 18% On Wednesday?

Stocks may often perform poorly but when they are on a path to recovery, it may be a good time for investors to start looking into them again.

Trading Data

On Wednesday, HMBL stock jumped 18.37% to $0.0174 with 11.83 million shares, compared to its average volume 10.59 million shares. The stock moved within a range of $0.0144 – 0.0181 after opening trade at $0.0153.

Recent News

This brings us to the topic of HUMBL Inc. (OTCMKTS:HMBL) The company’s stock had fallen sharply in recent times but on Thursday it made a strong recovery and went up by as much as 18% amidst significant interest. While it is true that there was no news about the company yesterday, it could well be a good time for investors to consider taking a look at a piece of news from back on September 26.

At the time the company announced that it had gone into a strategic partnership with the firm Great Foods2Go. It may be a good idea for investors to consider taking a closer look at the nature of the strategic partnership between the two parties.

As per the provisions of the agreement, HUMBL’s range of services, starting from HUMBL Pay, HUMBL Wallet, HUMBL Marketplace Technologies and HUMBL Search Engine are going to integrated into Great Foods2Go. In addition to that, it is also going to be integrated into 1Delivery, which is a sub-brand of Great Foods2Go.

Technical Data

HMBL stock is below the 20-Day and 50-Day Moving averages of $0.0291 and $0.0.0481 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1196.  The company has a total market capitalization of $33.74 million.