Why is HUMBL (HMBL) Stock Rebounding?

When Tesoro and Humbl announced a merger HMBL started soaring crazily on over a billion shares. Everybody was excited about the future of Humbl, a payment solutions app that has almost everything to ease any transaction. However, 2021 was a year of its peak, this year it is continuing to dip further. What can stop this trouble for HMBL?

Does HMBL stock need a miracle?

If we looked at the financial well-being of the company a month ago there would be a huge debt. Eight days ago Humbl announced it has reduced its debt balance by exchanging promissory notes for common stock. This means that it didn’t pay any cash but promised to give free HUMBL shares to those who want to repay its debt. So nice strategy to rip off existing debt! Humbl is also building its own Web3 platform to make a metaverse for its customers. Perhaps, the company will have its own coin and NFT soon. HMBL needs no miracle but hard work and trust from customers.