The HUMBL Inc (OTCMKTS:HMBL) stock has been one of the most popular penny stocks in the market so far this year but yesterday the stock suffered a slight decline.
There was no news about the company yesterday but the decline may have been related to a development earlier on this week. Earlier on in the week, the company announced that Brian Foote, its Chief Executive Officer, retired as many as 9350 units of the Series B Preferred stock that he held. However, it is perhaps more important to remember that those shares are equivalent to as many as 93,500,000 shares of the HUMBL common stock.
On the other hand, market value of the shares that were retired by Brian Foote stood at $100,000,000 as per the share price of HUMBL at the time the request had been submitted.
However, at this point, it is also necessary for investors to remember that Foote had in fact retired as many as 551,669,335 shares in the HUMBL common stock before it was split. That was done from the share float in the company back in November 2020. It is going to be interesting to see if the HUMBL stock can make a recovery on Friday.
Market Reaction:
On Thursday, HMBL stock fell 1.30% at $1.125 with more than 4.72 million shares, compared to its average volume of 11.81 million shares. The stock had moved within a range of $1.0900 – 1.1900 after opening the trade at $1.14. Over the past 52-week, the stock has been trading within a range of $0.0002 – 7.7200.
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