A year ago Tesoro Enterprises, Inc. was known mainly as a business that was focused on home improvement and tiles. Today its stock is soaring to be one of the most actively traded stocks on the entire US OTC exchange. Shares of Tesero Enterprises, Inc. (OTCMKTS: TSNP) are up over 25% in morning trading today, but have been steadily rising all year and surging in the past five days. What is going on?
We first took notice of the stock back in November when it was trading at 2 cents on news that it was engaging in a merger with HUMB LLC. In December that merger was completed. HUMBL is engaged in helping businesses and customers facilitate payments through the internet and so called Blockchain technologies, a concept that has been fascinating small cap stock traders for the past five years.
In the December merger announcement management stated: “As a result of the completion of the merger, HUMBL was able to consummate November 23, 2020 agreements to raise funding through the cash sale of warrants. As these warrants are exercised, HUMBL will access up to $50 million in equity funding, to be used for marketing of the HUMBL global brand; the HUMBL® mobile app and HUMBL Hubs® merchant software; as well as distribution and partnerships around the world.”
On Monday the company announced “the product launch of its BLOCK Exchange Traded Index (ETXs) lineup in over one hundred countries across North America, Latin America, Asia, Middle East, Africa and the Caribbean.”
“If you look at investing in Mutual Funds and ETFs over the last century, multi-asset baskets have traditionally been an easy way for customers to buy and hold over the long-term,” said Calvin Weight, Chief Market Strategist at HUMBL Financial. “BLOCK ETXs deliver new technologies in a proven format, for the blockchain trading markets, and other asset classes over time.”
The news and stock price action is driving interest on Twitter.
I do not own a position in this stock and neither does Mike Swanson, the head editor of this website. “The stock is up so much today I see no entry point at this moment in it and AMC and GME show the risks in chasing,” says Mike Swanson. You can get on his free stock trading setups email list and get his top stock pick for February by clicking here.