Even though penny stocks can cause you to lose your entire investment, they can also provide significant opportunities for the astute investor. Anyone looking to trade or invest in these low-value stocks should plan on doing their homework and thoroughly researching any penny stock before committing funds.
Buying penny stocks requires caution because they are generally inexpensive for a reason. They could, for example, be issued by a company that is insolvent, filing for bankruptcy, or is involved in a costly lawsuit. Penny stocks frequently suffer from significant liquidity issues, making them more difficult to trade than listed stocks with larger market capitalizations.
Despite these risks, some penny stock companies manage to make spectacular turnarounds and can end up being extremely profitable investments for those who bought their stock near the bottom when the outlook was the darkest.
If you’ve been thinking about trading or investing in Healthier Choices Management Corp. (OTCMKTS: HCMC) stock, keep reading to learn how to buy stocks like HCMC and how much risk investing in this particular penny stock represents. You’ll also learn whether HCMC stock is a good fit for your portfolio or as a speculative vehicle, as well as where to buy HCMC stock
What is HCMC?
Healthier Choices Management Corp. is a Florida-based holding company founded in 1985 by Jeffrey Holman. HCMC claims to offer healthier alternatives to traditional lifestyle choices. HCMC was previously known as Vapor Corp. before rebranding as Healthier Choices Management Corp. in 2017. The Vapor segment of the company sells vaporizers, e-liquids, and other related products.
These stores offer all-natural and organic products, as well as traditional grocery items, to their respective communities. Fresh produce, meat, dairy products, frozen foods, seafood, bulk foods, packaged groceries, deli and baked goods, vitamins and supplements, health and beauty products, and natural household items are available in HCMC’s grocery segment.
Healthy Choice Wellness Centers are also run by HCMC. These centers provide individuals with optimized and premium care and services that are tailored to maximize the person’s health and well-being. IV Nutrient Drip Infusions and intramuscular injection treatments are among the services provided by the Wellness Centers.
How to Buy HCMC Stock
Before you begin to wonder where to buy HCMC stock, you must know the process of buying HCMC stock in the first place. The steps you should take are-
Step 1: Pick a brokerage.
Many stockbrokers now offer online stock trading services, including commission-free trading. Because some high-end brokerages avoid handling penny stock trades, you should check with any broker you are considering to see if it will execute orders in the over-the-counter (OTC) Pink Sheet and Bulletin Board markets, which are where most penny stocks, such as HCMC, trade.
Also, instead of brokers who charge per share, you should choose one that charges a low flat fee per trade or executes trades commission-free
The number of HCMC shares you can purchase is determined by the amount of capital you intend to trade or invest, as well as the market price. For example, if you had $10,000 in your brokerage account, you could buy 1,000 shares at $10, 10,000 shares at $1, or 1,000,000 shares at $0.01.
If you open an account with a full-service online brokerage, you may be required to include a fee or commission. When it comes to penny stocks or stocks that trade for less than a penny, such as HCMC, your dollar goes a long way.
For example, HCMC stock is currently trading at $0.0003, implying that you could buy 33.33 million shares for $10,000. If the stock fell to $0.0002, your 33.33 million shares would be worth $6,666, while a rise to $0.0004 would increase your investment to $13,332.
Step 3: Choose your order type.
Order types used in stock trading vary, and not all order types are supported by all brokers. To start a position in a stock, you should probably place a limit order or a market order. A stop-loss or limit order can be used to close out a position. These order types account for the vast majority of orders in the stock market at any given time.
Step 4: Execute your trade.
Following the placement of your order, it is up to your broker to execute and then confirm the trade in accordance with your instructions.
Where to Buy HCMC Stock
Purchasing penny stocks such as HCMC that trade over the counter on the Pink Sheets necessitates the use of a broker who is authorized to execute orders in that market. Not all brokers allow you to trade in penny stocks, the list of brokers where you can buy HCMC stocks are-
Webull
Webull, a mobile app-based brokerage founded in 2017, offers commission-free stock and exchange-traded fund (ETF) trading. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) oversee it (FINRA). If you are thinking of where to buy HCMC stock, the Webull broker can be your first bet.
Webull provides technical indicators, economic calendars, research agency ratings, margin trading, and short-selling to active traders. Webull’s trading platform is intended for intermediate and experienced traders, though beginners can benefit as well.
Moomoo
Moomoo is a mobile trading app that does not charge commissions and is available for Apple, Google, and Windows devices. It is a subsidiary of Futu Holdings Ltd. and is backed by Matrix, Sequoia, and Tencent venture capital affiliates (NASDAQ: FUTU).
Futu Inc. offers securities that are regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) (FINRA). If you are thinking of where to buy HCMC stock, you should check out Moomoo.
Moomoo is yet another excellent Robinhood substitute. If you want to get into smart trading, this is an excellent trading platform. It provides impressive trading tools and opportunities for both new and experienced traders, such as advanced charting, pre- and post-market trading, international trading, research and analysis tools, and, most notably, free Level 2 quotes.
GlobalAnalyst Product
IBKR GlobalAnalyst, a new trading tool that helps investors compare the rate of PEG or price-earnings growth valuations and provide more immediate and comprehensive financial metrics of stocks globally, is the latest groundbreaking technology. If you are thinking of where to buy HCMC stock, you should check out this broker.
Investors can use GlobalAnalyst to find undervalued stocks around the world by searching for stocks by region, country, industry, market capitalization, and currency. The table that results displays current market and financial metrics, including the PEG Ratio.
The PEG Ratio is calculated by dividing the PE ratio by the three-year compound earnings growth rate, and lower PEG Ratios typically indicate undervalued companies. If you are thinking of where to buy HCMC stock, you should check out this broker.
Cobra Trading
Cobra Trading is a direct access broker that focuses on order execution and access to short opportunities. It has multiple short locate sources, providing traders with access to the market’s best short opportunities. Throughout the trading day, Cobra Trading also specializes in providing comprehensive, responsive customer service. Cobra Trading is recommended for high-volume traders and short sellers.
eToro
eToro is a broker that provides access to more than 25 of the world’s most popular cryptocurrencies, as well as forex and over 1600 stocks. They have a few one-of-a-kind education and usability tools. Traders can start buying and selling as soon as 10 minutes.
eToro’s unique CopyTrader feature allows new investors to “copy” professional investors’ buy and sell orders, while the company’s eToro Club feature offers investors a variety of additional education tools and resources. If you are thinking of where to buy HCMC stock, eToro might be all you need to get started.
TradeZero’s
TradeZero is a free stock trading platform and online broker that offers everything you need to successfully share and trade, including round-the-clock customer support.
TradeZero’s services include four different trading cutting-edge software programs, a locator for sourcing shares for shorting, commission-free trades, and real-time streaming, to name a few of the features promoted on their website. The software is a one-of-a-kind and (potentially) inexpensive option for anyone interested in stock trading.
Pros and Cons of HCMC stock
Along with its extremely low share price, HCMC stock may present an opportunity for the right investor with a bullish outlook on the stock. Furthermore, if the stock’s intraday volatility spikes again, it may provide short-term traders with speculative gains. Keep in mind that the large number of shares required to make a profitable trade may incur commissions and fees, which can significantly reduce short-term gains.
Pros
- Since the stock price is so low, you have an implied put option at $0.
- For very little money, you can control a large amount of stock.
- It has a high upside potential with a low downside.
Cons
- It is fraught with danger.
- It has the potential for high intraday volatility.
- The per-share fees are exorbitant.
Is HCMC Stock a Buy, Sell or Hold?
Stocks that trade for pennies on the dollar, such as HCMC, present their own set of risks and opportunities to a trader or investor. The price at which a trader or investor has established a position in HCMC stock can also influence whether it is a buy, sell, or hold.
While the near-term outlook for this stock appears to be neutral, as current levels remain close to the stock’s historical average price, it could also be a buy at these low levels. Purchasing the stock could result in significant gains if the company’s current and future ventures, such as its patent lawsuit against Philip Morris, begin to pay off.
Having said that, the company’s massive stock float of 187 billion shares tends to limit its upside, unless the company announces a reverse stock split. Keep in mind that HCMC lost $3 million last year and that its stock has a one-year return of -93.02 percent at current levels, neither of which looks promising from a fundamental standpoint.
Before investing your money in a stock, you should always conduct extensive research on it, especially if you have never purchased shares before. The more you know, the more likely you are to make a wise investment.
With that in mind, here’s a checklist to go over before investing in Healthier Choices Management Corp.
Look into the company.
You should always look into the fundamentals of a company. What is Healthier Choices Management Corp.’s mission? How did the company get started? How did it come to be? Is Healthier Choices Management Corp.’s revenue and profit growth picking up?
Is the company in the process of developing new products? The more you know about Healthier Choices Management Corp., the better prepared you will be to make wise investment decisions.
Make sure you understand the basics of stock investing.
Before you get involved in the stock market, make sure you understand how it works. This will ensure that your goals are more clearly defined and that you have considered how you will achieve them.
Choose between stock trading and CFD trading.
Choose the type of investment strategy you want to pursue and ensure you have completed the necessary fundamental or technical analysis for share trading and CFD trading.
Determine the size of your budget.
The golden rule of investing is to never put more money at risk than you can afford to lose. Because not every investment will turn a profit, it is critical to create a budget that not only allows for good capital growth but also protects against excessively damaging losses.
Locate the best broker.
Individual brokers each have their own set of advantages and disadvantages. Some will have low fees but a difficult-to-understand user interface, whereas others may be a little more expensive but include a variety of features that you want to use.
Examine the overall market situation.
No stock exists in a vacuum, and it’s always a good idea to look at the overall trends of the stock market before investing. If a bear market is forming and stock prices are falling, it is best to wait it out and invest later when the stock is cheaper. If, on the other hand, the market is looking bearish, you’ll want to make your investment as soon as possible to capitalize on rising stock prices.
Frequently Asked Questions
Where can I buy HCMC stock?
Shares of HCMC can be purchased using any online brokerage account. WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab are among the popular online brokerages with access to the US stock market.
Can I buy HCMC on Etrade?
Yes. In the United States, you can buy HCMC through Etrade, Fidelity, or Schwab.
Is HCMC listed on the Nasdaq?
Yes. Healthier Choices Management Corp (HCMC) is listed on Nasdaq.
Is it a good idea to invest in HCMC stock?
HCMC’s stock, according to investors, has a lot of potential upsides. Users are shifting to healthier options as the company continues to develop innovative products. Any significant patent court victory could pay off handsomely for HCMC speculators.
Why was the stock of HCMC so high in 2014?
The conversion of its convertible preferred stock into common shares resulted in a significant increase in the number of shares. In the middle of May, Healthier Choices filed to grant existing shareholders the right to purchase additional shares, thereby raising additional capital for the company.
Who owns HCMC stock?
FineMark National Bank & Trust, Fisher Asset Management, LLC, Virtue Capital Management, LLC, Kovack Advisors, Inc., Captrust Financial Advisors, Lenox Wealth Advisors, LLC, Enterprise Financial Services Corp, MAI Capital Management, Advisors Management Group Inc /adv, and Oarsman Capital are among the largest shareholders.
Is HCMC an OTC stock?
Yes. HCMC is an OTC stock.
Conclusion
You can buy and sell HCMC stocks if you use a real-world full-service brokerage. The broker will place the order for the stock you want to buy or sell with the market maker. The Over-the-Counter Bulletin Board allows you to keep track of bid and ask quotes at all times (OTCBB).
When thinking of where to buy HCMC stocks, by opening a brokerage account with one of the many brokerage firms, you can buy and sell stock on your own. After you’ve opened your account, link it to your bank checking account to make deposits, which will then be available for investing.
References
- marketwatch.com– Investing in HCMC stock
- invezz.com– Best places to buy HCMC
- invezz.com– How to buy HCMC
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