Global live streaming, social crypto, and language learning platform operator Hello Pal International Inc (OTCMKTS:HLLPF) saw its stock take a dive on Wednesday and record a decline of 13%.
In this regard, it is also necessary to point out that there was no news regarding the company that could have led to such a decline. Hence, it might be a good move to take a look at some developments from the past.
Back on May 25, the company announced that it managed to meet the conditions by way of which the escrowed funds to the tune of C$7.25 million have been released. The funds had been originally raised through a brokered private placement from Hello Pal. A portion of those funds were meant for making payments to vendors related to Hello Pal’s indirect acquisition of several mining rigs meant for producing Litecoin and Dogecoin. Considering the decline in the stock yesterday, it might be the right time for investors to keep an eye on any breaking news regarding Hello Pal.