Healthier Choices Management (OTCMKTS:HCMC) stock is taking a beating on Monday thanks to an update on its court case with Philip Morris International (NYSE:PM).
Healthier Choices Management has been duking it out with Philip Morris International over alleged patent infringements. However, that case looks to be coming to a close and not in the favor of HCMC.
According to Healthier Choices Management, its Motion for Leave to Amend its Complaint in the case has been denied. That may mean the end of the battle with PM that many investors were hoping the company would win with the court dismissing the case.
Healthier Choices Management released the following statement concerning the court case.
“HCMC is deeply disappointed in the Court’s decision to dismiss the case and is exploring its options for appeal with its counsel, Cozen O’Connor.”
Of course, that news brings with it heavy trading of HCMC stock. As of this writing, more than 3 billion shares of the stock have been traded. To put that in perspective, the company’s daily average trading volume is closer to 647 million shares.
Despite the blow to HCMC stock, some traders on Twitter (NYSE:TWTR) are determined to stick with the company. Here’s what a few of them are saying following the case dismissal.
HCMC Stock Twitter Talk
$hcmc so the lawsuit was dismissed.. at this point, I'm already down 98% on my shares.. might as well hold!
— RedPill (@RedPill51762365) December 6, 2021
$HCMC I agree as many also do. I have approx. 7.8 million shares. Holding tight. I AM NOT worried… I am not selling but willing to buy Monday on the dip. https://t.co/eN6RiaKkCY
— Wolodymyr Chyr (@WallyChyr) December 5, 2021
Despite $HCMC unfortunate lawsuit #NEWS. Consider EVERYTHING else, this #stock has way more to offer as a company vs all other #OTC #stocks in trips.
💥Multiple revenue streams
💥28m cash 🖐️@healthiercmc
Great #Investment @.0005 pic.twitter.com/Ef7Ehl7XWP
— 🚀🚀OTC💎BOSS🚀🚀 (@BizWrld) December 6, 2021
HCMC stock is down 50% as of Monday afternoon.
Investors looking for more stock market news today are in luck!
InvestorPlace has all the latest stock coverage that traders need to know about for Monday. A few examples are what has crypto stocks falling today, BuzzFeed (NASDAQ:BZFD) stock starting to trade, as well as a buyout deal boosting GCP Applied Technologies (NYSE:GCP) stock. You can find out more about these topics at the following links!
More Stock Market News for Monday
- Crypto Stocks: Why Are MSTR, RIOT, EBON, ARBK and CIFR Down Today?
- BZFD Stock: BuzzFeed Starts Trading Today — And It Just Lost a Lot of Money
- GCP Stock: The Big Buyout News That Has GCP Applied Technologies Bounding Higher Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed