The Healthier Choices Management Corp (OTCMKTS:HCMC) stock has been in news in recent weeks owing to its rights offering, but the stock has performed poorly in recent days. The Healthier Choices stock has actually tanked by as much as 20% over the course of the past week.
The significant decline recorded by the stock may be related to the fact that the company announced the expiration of its rights offering earlier on in the week.
The rights offering had been announced some weeks ago and it offered shareholders the right to pick up common shares in Healthier Choices Management for $.0010 a share. It should be noted that that price works out to a discount of as much as 25% from the 5 day VWAP of the share that ended on the expiration date. While the stock may have declined, investors could do well to keep an eye on it and see if it manages to rebound in the coming days.
On Thursday, HCMC stock slid by 7.70% to $0.0012 with more than 105.02 million shares, compared to its average volume of 257.34 million shares. The stock has moved within a range of $0.0011 – 0.0013 after opening the trade at $0.0013. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0065.