Connecting consumers, freelancers, and merchants using blockchain technology, fintech company HUMBL, Inc. (OTC Pink: HMBL) has earned itself a major following thanks to its legendary HMBL stock runup to $6.73 in February. HMBL is endeavoring to engage in low cost, cross-border crypto currency transactions with an ambitious plan to expand globally. 

Essentially, HMBL’s business model packages blockchain tokenization into easy use applications for customers, with a wide range of uses. Working to bring HUMBL Pay, HUMBL MarketPlace, and HUMBL Financial to the digital marketplace, HMBL’s services are expected to compete with the likes of PayPal, Alipay, and Venmo in the growing fintech sphere.  

Background

Humbl Pay

In anticipation of this competition, HMBL is constantly innovating to offer new, applicable services to its users. HUMBL Pay is one example, garnering over 22 thousand users in the first weekend of its launch. Upon launching, HMBL anticipated adding services such as digital asset investing and blockchain NFTs as well as peer-to-peer transactions to the application. Additionally, HMBL integrated ticketing services into its platform and seems intent on expanding this feature through its acquisition of Tickeri, Inc. – a ticketing, live events, and box office SaaS platform. This debt and stock transaction totaled $20 million and offers HMBL an entry point into the entertainment sector.

Humbl Marketplace

Most recently HMBL acquired Monster Creative, LLC, a Hollywood production studio that will collaborate with HUMBL in the production of NFTs and other digital content. In exchange, HMBL issued one convertible note and one non-convertible note for the aggregate principal amount of $8 million. This acquisition will likely supplement HUMBL Marketplace’s NFT Gallery which acts as a medium for NFT auctions by connecting creators and entertainers to services and distribution mechanisms. Humbl anticipates expanding its NFT services into sports, music, entertainment, fashion, gaming, and photography. NFT’s have become a pivotal feature of blockchain technology and HMBL’s entry into the sphere is well-timed, considering the emerging market’s already high value of $2.5 billion.

Humbl Financial

HMBL’s third platform – HUMBL Financial – is one of its most innovative ventures. For a monthly subscription, HMBL Financial’s “active” products use automatic algorithms to manage users’ crypto investments. This relieves user’s of the need to monitor their crypto holdings because the quantity of each crypto holding in the BLOCK ETXs is determined based on their market capitalization, one-month trading volume, and Humbl’s due diligence. Additionally, HMBL sells the blocks separately without the algorithmic monitoring which exposes investors to emerging, blockchain based asset classes without users going to Bittrex or Coinbase separately to buy each type of crypto. With a range of crypto blocks at different ratios, themed blocks, and active products that adjust user’s crypto holdings based on specially calibrated indicators, HUMBL Financial is an exciting enterprise for the company.   

Media Sentiment

@RebeccaHUMBL and the rest of Humbl Nation have been particularly bullish over the addition of Robert Cornish as Senior Advisor of Technology. Former CTO of Gemini and former CIO of the NYSE, Cornish brings a wealth of experience related to building and supporting global digital asset exchanges and NFT marketplaces.

Technical Analysis

HMBL stock chart

Following a dip on the 19th and 20th, HMBL stock has bounced back – currently trading at $.8115. Its most immediate support level is near .8071 with a secondary support at .7752. The stock is trending down at the moment and a third level of support could be found at .7513. As for its resistance, HMBL stock neared a resistance level of .8535 today and appears to have a secondary resistance level near .899. Accumulation has slid down and is yet to bounce back but the MACD is on the upside and is nearing a crossover as the indicator downtrends to converge with the uptrending signal line. Meanwhile, RSI has corrected from earlier overbuying and is downtrending now at 56.08. 

Over the course of its operation, HMBL has issued considerable convertible notes. While these issuances were used to finance important projects to return value to shareholders, investors should be aware of the dilution that could occur as these notes are redeemed. However, a lot of work has yet to be done with HMBL’s various enterprises to make them profitable. Despite its potential, in Q1 Humbl Financial only brought in $2,156. Meanwhile, Humbl Pay’s user acquisition was slow in Q1 reaching around 30k active users and its efforts towards expansion into other countries have been temporarily stalled in some cases. While the company has a revenue stream, it is still working at a NOL. Yet, startups of this size rarely achieve success over night.

Should you Buy?

There are many reasons to be bullish on HMBL. With a widespread following and concrete plans for expansion, HMBL shows promise for expansion and actualization of its many ventures. This is likely a long-term investment as the company works to become fully functioning. But if it is able to improve user acquisition and attract a wider following, then the company has the potential to contend with others in the FinTech sphere. At the moment it seems unlikely to return to its high of $6.73, but in the future the company could become a candidate for acquisition. HMBL stock could return to June’s price point of $1.07 as HUMBL Pay, Marketplace, and Financial start bringing in higher revenues and the company generates a profit.

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