In recent days, the Hello Pal International Inc (OTCMKTS:HLLPF) stock has come into considerable focus among investors and the rally in the stock continued on Wednesday, as it soared by another 30%. While the gains made by the stock are notable, it is also important for investors to keep in mind that there has been no recent news about Hello Pal that might have led to this rally.
The company is involved in global live streaming, running a social crypto platform and in language learning. Earlier on this month, Hello Pal announced that it managed to generate revenues of $2583960 for the month of May 2021.
The revenues were generated by the company through its live streaming and crypto mining businesses. It should be noted that Hello Pal got into the crypto mining business through the acquisition of Crypto Pal Technology Limited last month.
The crypto mining revenues were generated by the company through the mining of Litecoin and Dogecoin, two highly popular cryptocurrencies at this point in time. The revenues generated in May makes its the sixth straight month in which Hello Pal managed to generate monthly revenues in excess of $2 million. It might be a good time to start tracking the stock.
Market Reaction:
On Wednesday, HLLPF stock surged 30% to $0.5633 with more than 1.35 million shares, compared to its average volume of 728K shares. The stock has moved within a range of $0.4590 – 0.6304 after opening the trade at $0.48. Over the past 52-week, the stock has been trading within a range of $0.0300 – 1.8500.
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