Healthier Choices Management Corp. (OTC Pink: HCMC) stock was up 68.75% to $0.0011 as the market closed Monday. During the trading stock Volume was recorded at 32,584,048,931 in contrast with the last 30-days trading volume of 3,913,197,222. During the day the stock price fluctuated in the range of 0.0017 to 0.0048.
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Healthcare Management Corporation (www.healthiercmc.com) is a company focused on providing consumers with healthier daily diets and other lifestyle solutions. It manages and plans to expand on its intellectual property portfolio via its wholly-owned subsidiary HCMC Intellectual Property Holdings, LLC. At present, the Company owns and operates nine retail vape stores, which offer e-liquids, vaporizers, and related products.
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February 8, 2021, Healthier Choices Management Corp. (OTC Pink: HCMC) announced to some institutional investors an equity capital increase through the selling of $5,000,000 of its Series D preferred stock in a private placement. At an initial conversion price of $ 0.0024, the Series D preferred stock is convertible into HCMC common stock, a 150 percent premium to its last market closing price of $ of $0.0016on Friday, February 5, 2021.
The conversion price shall be subject to such downward changes, such as when the conversion securities are registered for resale or may be sold in compliance with Rule 144, as further defined in Form 8-K of the Business filed as of the date of the conversion price.
We have received a significant equity investment from our largest long-term shareholder, with a conversion price of $0.0024, 150% over our last market close. This confidence in the company’s fundamentals, IP, and prospects moving forward is inspirational, said Jeff Holman, CEO of HCMC.
Holman concluded, “We will continue to enforce our patent rights against infringers irrespective of industry. This especially extends to the tobacco and cannabis industries.”
This announcement started the stock price soaring, but some are still wondering whether the market is in a bubble.