Last year it was announced that Tesoro Enterprises, Inc. (OTCMKTS:TSNP) was going to be merged with fintech company HUMBL INC and since then the stock has been on fire.
While it is true that many experts believe that the gains made by Tesoro Enterprises, Inc. (OTCMKTS:TSNP) are irrational, it is still important for investors to take a deeper look at the company.
The merged entity is valued at $5 billion and more importantly, the rally has continued in 2021 as well.
On Monday, the Tesoro stock continued to rally and rose by as much as 24% to take the total gains for the year so far to as much as 1100%.
Those are enormous gains and naturally, it is expected that TSNP is going to land on the radars of more investors. One of the reasons behind the continued rise in the stock price has been the introduction of a range of new products from HUMBL.
That being said, most of those new launches are not actually new. Many of those products had been launched earlier under the name BLOCK 30. At this point, the stock has garnered a lot of attention from retail investors but there is very little that could explain the sheer magnitude of the gains.
The scale of the rally almost makes it seem like HUMBL is the next fintech giant.
Last week, the company announced the launch of its new blockchain-related product named BLOCK ETX that is expected to make it easier for people to get into digital asset investing.
Considering the fact that the blockchain and cryptocurrency sectors have generated a lot of interest among investors, it was not surprising that the announcement last week led to such a rally.
While the rally in the Tesoro Enterprises stock continues, it might continue to attract investors. However, experts believe that the stock price does not reflect the reality at this point.
Disclaimer: We hold no position in TSNP stock.