Healthier Choices Management (HCMC) stock explodes 100% after gaining 800% in January amid WSB frenzy
- Robinhood said today it plans to maintain its restrictions on the trading of a number of securities
- HCMC stock seems to be another beneficiary of the WSB frenzy
- Shares of HCMC are now up 100% on the day after gaining 800% in January
Shares of Healthier Choices Management Corp (OTC: HCMC) have exploded 100% today to extend monster gains recorded in January (+800%).
Fundamental analysis: Robinhood saga continues
The online trading platform Robinhood said today it plans to maintain its restrictions on the trading of a number of securities including GameStop, AMC, and other stocks that skyrocketed over the past week.
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The platform currently allows holders of GameStop stock to buy only one additional share of the company and up to five options contracts. Robinhood first restricted trading on 50 securities on Friday, but has slashed that figure to eight today.
Those eight restricted stocks include GameStop, AMC Entertainment, BlackBerry, Koss, Express, Nokia, Genius Brands International, and Naked Brand Group. Robinhood also limited purchasing of options contracts in those companies.
“If you already hold a greater number of shares or contracts than the limits listed above, your positions will not be sold or closed. However, you will not be able to open more positions of each of these securities unless you sell enough of your holdings such that you are below the respective limit,” it is said on the website.
The company said it will not force users who already hold a higher number of shares than allowed to close or sell their positions, but they will not be able to open new ones. Robinhood’s decision to impose restrictions comes after the central Wall Street clearinghouse increased the deposit requirements by tenfold last week to secure orderly settlements.
Robinhood has also increased margin requirements.
Technical analysis: HCMC benefits
HCMC stock seems to be another beneficiary of the WSB frenzy as the Reddit investing community has continued to aggressively invest in certain stocks. According to the latest data, more than a billion shares of the company changed hands.
Shares of HCMC, which is focused on providing consumers with healthier alternatives to everyday lifestyle choices, are now up 100% on the day after gaining 800% in January.
Even with the ongoing rise in the stock price, the entire market cap of HCMC stands at $84 million.
Online broker Robinhood said it plans to maintain its restrictions on the trading of a number of securities including GameStop, AMC, and other stocks that skyrocketed over the past week. Elsewhere, HCMC stock is the latest beneficiary of the ongoing WSB frenzy.