Healthier Choices Management (OTCMKTS:HCMC) news for Wednesday includes shares of the stock skyrocketing on lawsuit speculation.
To go with this is an increase in trading for HCMC stock. As of this writing, the company has seen more than 3 billion shares change hands. That’s a massive increase next to its daily average trading volume of about 356 million shares.
Here’s everything that investors need to know as shares of HCMC stock head higher.
- Healthier Choices Management is suing Philip Morris International (NYSE:PM) over patent infringement.
- The lawsuit was originally filed back in November 2020, but is picking up steam again thanks to a post on Reddit Pennystocks.
- This has investors taking interest in the company as they speculate it could win the lawsuit against PM.
- If so, the company is seeking damages from Philip Morris International.
- The lawsuit alleges that PM infringed on its patent 170 with its IQOS tobacco vapor product.
- Healthier Choices Management is a company that focuses on providing customers with healthier lifestyle options.
- It operates an 18,000 sq. ft. grocery store in Fort Myers, Fla., as well as three Paradise Health & Nutrition locations in the greater Melbourne, Fla., area.
- However, it’s likely its other business that has it battling Philip Morris International.
- The company operates nine vape shops throughout the shoueast U.S.
- It does so through various names, such as The Vape Store, Vapor Max, Vulcan Vape, and The Grab Bag.
- It also owns several patents in connection to electronic cigarettes.
- HCMC is lead by chairman and CEO Jeffrey Holman, who previously served on the Board of Directors for its Smoke Anywhere USA subsidiary.
HCMC stock was up 66.7% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.