The Healthier Choices Management Corp (OTC: HCMC) stock has emerged as one of the major gainers this week largely owing to online speculation from the Reddit community Reddit PennyStocks.
The company had filed a copyright infringement lawsuit against Philip Morris International in November last year. However, it has recently been picked up by the Reddit community and the stock has gained significantly on the back of feverish speculation. Investors are possibly betting that the company could end up winning the above-mentioned lawsuit and consequently, the stock has also gained significant momentum.
In addition to that, it is also necessary to note that the trading volumes in the Healthier Choices stock have also gone up significantly. Yesterday, it emerged that the total trading volume in the stock had hit a staggering 3 billion shares and that is a figure that suggests that there is heavy action in the Healthier Choices stock. The stock had a daily average trading volume of only 356 million shares prior to this spike in volume.
Finance and Tech Contributor