The Healthier Choices Management Corp (OTCMKTS:HCMC) stock had a bit of a slump not too long ago but on Wednesday the stock managed to make a strong recovery and went up by as much as 17%.
There was no fresh news that could have resulted in the recovery but it should be noted that the original slump had been triggered after the company’s patent infringement case against Phillip Morris USA Inc was dismissed by the District Court for the Northern District of Georgia. On July 16, Healthier Choices Management Corp provided an update on the matter and stated that the motion to dismiss from Phillip Morris was granted by the court.
That was a major setback for the company and led to a selloff in the stock as well. In this regard, it is perhaps necessary for investors to keep in mind that all is not yet lost for Healthier Choices Management Corp. The court did give the company fourteen days within which it can file an amended complaint. At the time, it was announced that Healthier Choices Management Corp was going to submit such a filing. It might actually be a good idea for investors to keep a close eye on the developments.
Market Reaction:
On Wednesday, HCMC stock surged 17% at $0.0007 with more than 1.70 billion shares, compared to its average volume of 347.34 million shares. The stock has moved within a range of $0.0006 – 0.0007 after opening the trade at $0.0006. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0065.
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