HPIL Holding (OTCMKTS:HPIL) Stock Pulls Back On Profit Booking
After having gone through a fairly prosperous period for some days, the HPIL Holding (OTCMKTS:HPIL) stock corrected sharply on Tuesday and tanked by as much as 17%.
Market Stats
On Tuesday, HPIL stock moved down 17.40% at $0.0038 with more than 317.60 million shares, compared to its average volume of 238.60 million shares. The stock has moved within a range of $0.0037 – 0.0043 after opening the trade at $0.0043.
Recent News
While the decline in the stock may be considerable, it is perhaps also necessary to keep in mind that over the course of the past week the HPIL stock is still up by as much as 27%. Yesterday, the company announced that its subsidiary company World Gaming Group was in the process of launching the game ‘SANTA RUN’. It was a major announcement from the company considering the fact that the game had been under development all this while.
The company also announced that the mobile game not only offers a range of fun elements for all age groups but the players also stand to win prizes.
It is a holiday themed game and maybe it is launching just at the right time considering the fact that the festive season is almost upon us. However, the announcement did not meet with any great optimism from investors and the HPIL stock tanked sharply soon after. It remains to be seen if the HPIL stock can actually make a recovery in the coming days.
Key Quote
“We think that with the approach we took to building this game it could rival the type of revenue in the Billions of dollars that were and are still being generated by the game ‘CANDY CRUSH’,” said Stephen Brown CEO.
Traders Corner
HPIL stock is trading above the 20-Day and 200-Day Moving averages of $0.0036 and $0.0033 respectively. However, the stock is trading below the 200-Day moving average of $0.0039. The stock is UP 31% in the past week.
