Sometimes even positive news can lead to a decline in a stock and that is what seems to have happened with the Healthier Choices Management Corp (OTCMKTS:HCMC) stock this morning, which is down by 11%.
This morning the company announced that it is going to be issued with a United States patent for the Electronic Vaporizer Cartridge with Encased Heat Source tomorrow. This particular patent is related to the deployment of technology belonging to Healthier Choices Management Corp in a vaporizer cartridge. However, the internal components of this cartridge are cased in non-reactive materials like ceramic or quartz.
It is a significant development and will be helpful in avoiding toxic reactions between CBD oil or e-liquids in the cartridge. The company has been working on ways to promote safer and healthier vaping and this latest patent is a step in that very direction.
However, the development has not come as a source of excitement for investors this morning and there has been a selloff in the stock. It now remains to be seen if the stock can actually make a recovery through the rest of the day. Additionally, any declines could also be an opportunity for investors looking to get into the Healthier Choices Management Corp stock.
Market Reaction:
As of 11:48, HCMC stock fell 11% at $0.0008 with more than 2.29 billion shares, compared to its average volume of 335.41 million shares. The stock had moved within a range of $0.0007 – 0.0009 after opening the trade at $0.0009. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0065.
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