At the beginning of the year, the HUMBL Inc (OTCMKTS:HMBL) stock had emerged as one of the major penny stock gainer in the market but over the past month, it has been a very different story.
On Friday, the stock struggled and went down by 4% to take its losses over the course of the past month to as much as 21%. There was no news about the company this past week but it might be a good idea to take a look at a key development from earlier on this month. The company announced on July 8 that it roped in United States track and field athlete Gabby Thomas as a HUMBLS brand ambassador.
Thomas is going to be a representative of the United States at the Olympics this year and in addition to that, she is a Harvard graduate with specialisations in global health as well as neurobiology.
Brian Foote, the Chief Executive Officer of HUMBL, stated that the company is honoured to have Thomas as a representative. He went on to state that the company is also looking to collaborate with the athlete in a range of global initiatives. It remains to be seen if the HUMBL stock can recover on Monday.
Market Reaction:
On Friday, HMBL stock fell 2.67% at $0.95 with more than 2.42 million shares, compared to its average volume of 8.87 million shares. The stock had moved within a range of $0.9300 – 0.9900 after opening the trade at $0.98. Over the past 52-week, the stock has been trading within a range of $0.0002 – 7.7200.
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