A small Connecticut-based company made headlines early this morning after announcing the pilot launch of a new platform along with a name change that will better suit its new venture. Tesoro Enterprises Inc. (OTC-PNK:TSNP) will soon be renamed HUMBL, Inc., announced today the pilot launch of HUMBL Studios, which will give global small business merchants the opportunity to better connect their goods to online shoppers via curated shops on the HUMBL Marketplace.
It doesn’t take a genius to realize the importance of online marketplaces during this pandemic, as one can see how much Amazon as prospered during this era. Traders seem to share this sentiment, as shares have yet to trade, but are bid up to $.142/share (implied +7.7%) before the opening bell.
This move is coming off the heels of a tremendous rally the stock has seen this month, reaching highs of $0.3599/share only to drift back down to current levels. Yesterday’s session might’ve shown a sign of support around the 50-day SMA level, which was on high volume and will be confirmed if this move holds. Keep an eye on this one at the open.
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