The Healthier Choices Management Corp (OTC: HCMC) was one of the stocks that emerged as a notable gainer this past week. Following a key announcement from the company on Monday, the stock rallied by as high as 130% over the course of the past week.
The company announced that it raised as big as $5,000,000 in the form of fresh equity capital after it sold some of its preferred Series D shares. The shares in question were sold to institutional investors. It has also emerged that the Series D preferred stock can also be converted to common stock at the conversion price of $0.0024. The conversion price reflects a premium of 150% from the closing price of the stock last Friday.
The magnitude of the gains made by the stock last week might bring on to the radars of many investors this week. Investors could do well to keep an eye on the stock over the coming days.