Healthier Choices Management Corporation (OTCMKTS:HCMC) Stock In Focus After Earnings Update

November 16, 2021November 16, 2021 Jon Williams HCMC, HCMC news, HCMC stock, Healthier Choices Management Corp (OTCMKTS: HCMC), OTCMKTS:HCMC

On Monday, Healthier Choices Management Corporation (OTCMKTS:HCMC) was back in focus among investors after the company announced its financial results for the quarter that had ended on September 30, 2021.

Market Stats

On Monday, HCMC stock ended flat at $0.0005 with more than 1.19 billion, compared to its average volume of 623.79 million shares. The stock has moved within a range of $0.0004 – 0.0005 after opening trading at $0.0004.

Earnings In Focus

The company also announced the results for the nine month period that had ended on the same date. The company generated gross profits of as much as $1.38 million for the quarter and that reflected a slight improvement on the $1.36 million in gross profits that had been generated in the year ago period. However, in the nine month period, the gross profits actually dropped to $4.33 million from the $4.44 million that had been generated in the prior year period.

However, in this regard, it is perhaps more important for investors to keep in mind that Healthier Choices Management managed to reduce its losses during the quarter year on year. The net losses for the period stood at $1.05 million for the quarter and that was significantly lower than the $1.30 million in net losses in the prior year period. In the nine month period, the net loss was $1.24 million and that was again an improvement on the $1.57 million in net losses in the same nine month period on 2020.

Key Quote

Jeffrey Holman, Chairman and Chief Executive Officer of HCMC, said, “We had a solid third quarter and are very pleased with our margin performance and execution across the business. This was a significant achievement for HCMC in a challenging supply chain environment.”

Traders Corner

HCMC stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0006 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0012. The stock is down 17% in the past month.

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Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.