DRP Journal

Discover Research Profit

Finance 

Home Bistro Inc. (OTCMKTS:HBIS) Stock Gains Momentum: Here is Why

Pete Matthews , , , ,

Home Bistro Inc. (OTCMKTS:HBIS) was up 2% after the online platform that provides star chef-inspired, gourmet ready and lifestyle meals announced that it is in discussions with Donohoe Advisory Associates LLCC to explore the possibility of Nasdaq Capital Market uplisting.

Market Stats

On Tuesday, HBIS stock jumped 1.80% at $0.8603 with more than 10k shares, compared to its average volume of 41k shares. The stock has moved within a range of $0.8100 – 0.8991 after opening trading at $0.81.

Engages Donohoe Advisory to Explore Uplisting of Shares to The Nasdaq Stock Market

CEO ZalmiDuchman said that considering the operational progress the company has made in the last eighteen months, this is a massive opportunity to explore the possibility of uplisting Home Bistro stock to a national capital market.

Uplisting the shares will offer the company a high profile and the potential for enhanced liquidity for its shareholders. Duchmana commented that Donohoe Advisory is a premier advisory company comprising ex-stock exchange officials seeking to help firms such as Home Bistro to uplist their stock to the Nasdaq exchange.Interestingly, Home Bistro is also in discussions with a multinational New York-based investment firm to help it with the process of uplisting its shares. Therefore, in the coming months, investors should watch HBIS.

Key Quote

Home Bistro’s CEO, Zalmi Duchman, stated, “Given the significant operational progress we’ve made over the past eighteen months, we believe it’s an opportune time to explore the potential for uplisting Home Bistro shares to a national exchange. This would provide the Company with a considerably higher profile and the potential for increased liquidity for our shareholders. He added, “Donohoe Advisory is the premier advisory firm, made up of ex-stock exchange officials, that assist companies such as Home Bistro, with uplisting their shares to the Nasdaq Market and we are excited about that potential.”

Traders Corner

HBIS stock is trading below the 20-Day and 50-Day Moving averages of $1.05 and $1.27 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.05. The stock is down 31% in the past month.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.