Although the HUMBL Inc (OTCMKTS:HMBL) stock has been one of the more popular penny stocks in the market over the past months, it has not had a particularly great time in the past month.
Over the course of the past month, the HUMBL stock has tumbled by as much as 21% and it is perhaps time for investors to figure out if this could be an opportunity to get into the stock. Last week the company made a major announcement that investors ought to note. HUMBL announced that its Chief Executive Officer Brian Foote decided to retire as many as 9350 units of the Series B Preferred stock in the company that he owned.
However, in this regard, the more important thing to consider for potential investors is the fact that those Series B Preferred shares are equivalent to as many as 93,500,000 shares of the HUMBL common stock. The announcement was made by HUMBL on July 7 and as per the price of the stock at the time of the submission, the retired shares had a worth of $100,000,000. It was a significant development for the company and one that could have a long term effect on the fortunes of the HUMBL stock.
Market Reaction:
On Monday, HMBL stock fell 3.33% at $1.02 with more than 4.90 million shares, compared to its average volume of 11.68 million shares. The stock had moved within a range of $ 1.0000 – 1.0500 after opening the trade at $1.03. Over the past 52-week, the stock has been trading within a range of $0.0002 – 7.7200.
 Stock Hovers Around $1: Time To Buy Now?){kind=link}