Healthier Choices Management stock is the latest penny stock to enjoy a boost thanks to social media interest. Up 37% over the past five days, and 2,700% since the beginning of the year, just how high can this stock go?
Healthier Choices Management, or HCMC, is in the focus of social media traders as it begins a week of important announcements. We can expect their first-quarter earnings results on Wednesday, and news from their CEO by Thursday. 3.5 billion shares traded hands yesterday, compared with the usual 243 million, and the stock is currently priced at $0.0024/share.
Healthier Choices is headquartered in Florida, where it runs a grocery store, a number of health and nutrition locations and a handful of e-cigarette shops across the south-eastern US. The interest among investors likely stems from these e-cigarette activities. The company owns several patents in these fields, and is in legal contention with Philip Morris, who it believes has infringed on these patents.
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Will HCMC rise in value?
All penny stocks are highly volatile and there are no guarantees. The interest in this stock is being fuelled by a social media push and is not based on a consensus of opinion by market analysts.
The outcome of the legal dispute with Philip Morris continues, and the outcome is uncertain. While a victory for HCMC would be highly beneficial to the company and its standing, it may well be some time before a final decision is known.
The social media swell that began early this week is also intended to drive out short sellers, with influencers recommending investors to take $100 stakes and not sell out as the stock begins to rise. The true performance of the company will be disclosed on Wednesday, when the company releases its first-quarter earnings results. There is also a possibility that the company will comment on the legal dispute and provide an updated forecast for this financial year, though there is no obligation to do so. Such information would help identify if continued interest in this stock is valid.
Let’s get the job DONE today, #HCMCArmy
— King (@TradesDK) May 3, 2021