HPIL Holding (HPIL) Stock Sees Profit Taking At Higher Level: A Good Opportunity?
Over the course of the past month, the HPIL Holding (OTCMKTS:HPIL) stock has been in the middle of a very strong rally. Although the stock went down by 32% last week due to a case of profit taking from investors, it should not be forgotten that the Cybernetic stock is still up by as much as 140% over the past month.
The major trigger for the stock came on June 22 when the company announced that it was going to create its own electric vehicles named APOGEE D7. In order to build this electric vehicle, the company is going to deploy powertrain, which has been created by L. Ferrox Tutinean and Apogee Dynamics Ltd
The news came as a major boost for the Cybernetic stock and it soared quickly on the back of massive interest from among investors. The Chief Executive Officer of Cybernetic, Stephen Brown, stated that the vehicle is going to be a 4 seater and in addition to powertrain, it is also going to use the disruptive technologies that have been developed by at least 10 more partners. He went on to state that the company is also going to set up a website for Apogee D7 soon.
Market Reaction:
On Friday, HPIL stock went down 7% at $0.0067 with more than 442.70 million shares, compared to its average volume of 341.20 million shares. The stock had moved within a range of $0.0062 – 0.0077 after opening the trade at $0.0076. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0119.
