The HUMBL Inc (OTCMKTS:HMBL) stock had been one of the biggest movers from among penny stocks earlier on this year and had delivered handsome returns to many of its investors.
However, it has struggled over the course of the past month and during that period, the stock has tanked by as much as 22%. There has been no news about the company in recent days but back on July 7, it was announced that the Chief Executive Officer of the company Brian Foote agreed to retire as many as 9350 shares of the Series B Preferred stock that he had owned.
It was a significant development for HUMBL considering the fact that those shares were equivalent to as many as 93500000 shares of the HUMBL common stock.
It should also be noted that the shares that were retired by Foote had a market valuation of $100,000,000 at the time that the request had been submitted. However, it was not the first time that the HUMBL CEO had decided to retire some of the shares in the company. Back in November last year Foote had retired as many as 551,669,335 shares from the float prior to the share split. Those shares had also been personally owned by Foote.
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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