Healthier Choices Management (OTCMKTS:HCMC) news for Wednesday includes shares of the stock skyrocketing on lawsuit speculation.
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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.
