Will Humbl Inc (OTCMKTS:HMBL) Find a Bottom?

Humbl Inc (OTCMKTS:HMBL) stock ended higher on Friday, but saw selling pressure all week.

Market Action

 HMBL stock ended Friday at $0.99, up by 14.79%. More than 11.48 million shares traded hands, below its 30-day average of 14.03 million shares. However, the stock was down about 33.75% for the week.

HMBL Released News

Last week HMBL released news. Following were the key highlights:

HUMBL Announces Binding Term Sheet to Acquire Monster Creative

  • HMBL has entered into a binding term sheet to acquire Monster Creative, LLC.
  • Founded by award-winning industry veterans Doug Brandt and Kevin Childress, Monster Creative is a leading creative advertising agency in the entertainment space.
  • Monster Creative will continue independent operations of its Hollywood studios while collaborating with HUMBL in creating multimedia NFTs and ticketing experiences for clients in sports, music, entertainment, fashion, gaming, and photography.
  • The purchase price for the acquisition is $7.5 million (USD) in HUMBL common stock, $500,000 in cash, and a $500,000 (USD) promissory note.

“We are honored to work with such highly regarded Hollywood veterans, to create world class, immersive multimedia NFTs and ticketing experiences for clients and fans in the digital realm,” said Brian Foote, CEO of HUMBL.

Trader Notes

HMBL is trading below its 50-day and 200-day moving average price of $2.50 and $1.30 respectively. The stock has jumped 60% so far this year. The stock has an RSI of just over 31, which could trigger a dead cat bounce from the oversold zone.

Related Posts

About The Author