Humbl Inc (OTCMKTS: HMBL) Continues the Bearish Trend, Slumps 9.15%
Humbl Inc (OTCMKTS: HMBL) is down 9.15% for $1.29. With the trading volume of just 40K, which is much below its average share trading volume of 11.62M, HMBL remains bearish. This company has a market capitalization of $ 1.15 billion, and in May, it had booked $0.16 million in revenues for the first quarter. Looking at the revenue coming from HUMBL Financial ($2,156), the story didn’t paint a pleased picture.
Tickeri Acquisition completion doesn’t restore investors’ faith
This month, the company had announced that it had finalized Tickeri, Inc. acquisition. The latter specializes in ticketing. This $20M USD deal is a mix of common stock and debt payment. Tickeri shall be operating under its brand name.
Investment analysis
HUMBL had released its Q1-2021 results in May, and the company’s Exchange Traded Index (ETX) products are also quite popular. Then, the company had also launched its mobile payment app, and to be honest all figures remain under the weather. There was initial mention of revenue from HUMBL Financial because the much-popular Exchange Traded Index (ETX) products are a part of the same, and the low revenue doesn’t quite fit into the popularity tale.
Looking at the present quarter, it is expected that HUMBL should start pumping in something for generating revenue, but even then, the close analysts aren’t expecting them to be high. With everything indicating a downward trend, and the stock continuing to remain in the red zone over the previous week, there is speculation of bearish clouds looking over the stock.
Even though the month in which the company had released its Q1-2021 report, the shares had remained in the green graph, but Une hasn’t been a perfect month for HUMBL, share-wise.
