Over the course of the past week or so, the Hello Pal International Inc stock has been in the middle of a downward spiral and it continued on Tuesday. The Hello Pal International (OTCMKTS:HLLPF) stock slumped by 25% yesterday to takes its decline over the past week to as much as 50%.
One of the things that investors need to remember is that the considerable declines in the stock in recent days have not been triggered by any new development and hence, it might be useful to take a look at past events.
The company, which is involved in live streaming, social crypto platforms and language learning space, announced earlier on this month that it managed to generate revenues of $2583960 in the month of May 2021. The revenues were generated by way of its live streaming business as well as through the proceeds from the limited mining of cryptocurrencies like Litecoin and Dogecoin.
Hello Pal got into the crypto mining business through the acquisition of Crypto Pal Technology Limited last month. The revenues generated in last month also made it the sixth straight month in which Hello Pal managed to cross the $2 million mark in revenues. The gross margins for the month of May came in at 10%.
Market Reaction:
On Tuesday, HLLPF stock declined by 24.38% to $0.4335 with more than 1.58 million shares, compared to its average volume of 709K shares. The stock has moved within a range of $0.4259 – 0.6080 after opening the trade at $0.58. Over the past 52-week, the stock has been trading within a range of $0.0300 – 1.8500.
 Stock Extends The Fall: A Good Opportunity?){kind=link}