{"id":3576,"date":"2014-01-10T16:15:10","date_gmt":"2014-01-10T16:15:10","guid":{"rendered":"\/?p=3576"},"modified":"2014-01-10T16:15:18","modified_gmt":"2014-01-10T16:15:18","slug":"rapid-fire-marketing-inc-otcmktsrfmk-crashes-on-record-volume","status":"publish","type":"post","link":"\/articles\/rapid-fire-marketing-inc-otcmktsrfmk-crashes-on-record-volume\/","title":{"rendered":"Rapid Fire Marketing Inc (OTCMKTS:RFMK) Crashes on Record Volume"},"content":{"rendered":"

\"7RFMK.png\"Like most of the penny stocks that are, in one way or another, related to the marijuana industry, Rapid Fire Marketing Inc (OTCMKTS:RFMK<\/a>) experienced a spectacular climb during the first few sessions of 2014. The volumes looked healthy and so did the stock performance. <\/p>\n

Things were particularly interesting on Wednesday when nearly 400 million shares worth around $730 thousand changed hands. Six and a half hours were enough for RFMK<\/a> to reach a high of $0.0021 for the first time since March 2013 and although such explosive runs rarely last long, some people thought that the marijuana tickers still have momentum. Unfortunately, this wasn’t quite the case. <\/p>\n

RFMK<\/a> opened yesterday’s session at $0.0027, nearly 30% above Wednesday’s close, and during the first few minutes, it looked like it’s in for another positive day. Unfortunately, about an hour and a half after the opening bell, it slid heavily down and lost quite a lot of ground. At 4:30 PM, it was sitting at $0.0012 which is a whopping 42.86% below its previous value.<\/p>\n

Perhaps more worryingly, the trading volume amounts to around 532 million shares (roughly a quarter of the number of outstanding shares) and the trade value stands at nearly $974 thousand which is a remarkable amount for a double-zero ticker. So, what’s going to happen next?<\/p>\n

Well, opinions around message boards are divided. Some people say that yesterday’s crash is actually a nice opportunity for wise investors to jump in early and take the long but interesting ride towards the land of huge profits.<\/p>\n

Others, meanwhile, are taking a wider point of view. They do understand that RFMK<\/a> was propelled during the first week of 2014 by nothing more than the general hype around the medical and recreational marijuana industry. They see that other “pot stocks” like Growlife Inc (OTCBB:PHOT<\/a>), GreenGro Technologies, Inc. (OTCMKTS:GRNH<\/a>), and Creative Edge Nutrition Inc (OTCMKTS:FITX<\/a>) also experienced a correction yesterday and think that RFMK<\/a> might be capable of another, albeit smaller run towards the higher end of the charts.<\/p>\n

There is, of course, a third group who claim that the company is nothing more than a share selling scam which will soon go back to where it belongs – deep in triple-zero land. But who are the ones you should trust?<\/p>\n

\"8RFMK_logo.png\"As always, you will need to decide for yourself, but while you’re contemplating the options you might want to keep in mind that historically speaking, RFMK<\/a> is far from the most stable performer on the OTC Markets. In fact, it experienced a number of spikes in price and volume over the last three years, but the results were, more often than not, pretty disappointing.<\/p>\n

You should also consider the fact that, as we mentioned yesterday, the company is in a world of financial problems. There are quite a few convertible notes outstanding as well and we won’t be at all surprised if we see some more being issued in the near future (according to RFMK<\/a>‘s filings, they’ll need around $1.2 million in cash over the next 12 months if they are to sustain normal operations).<\/p>\n

All in all, RFMK<\/a> has disappointed quite a lot of people in the past and early trading today suggests that it’s in the process of doing it again (about an hour after the opening bell, it has slashed a quarter of the value). That’s why, doing a lot of due diligence and thinking through every single move carefully is absolutely crucial.<\/p>\n","protected":false},"excerpt":{"rendered":"

Like most of the penny stocks that are, in one way or another, related to the marijuana industry, Rapid Fire Marketing Inc (OTCMKTS:RFMK) experienced a spectacular climb during the first few sessions of 2014....<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10,262,21,126],"class_list":["post-3576","post","type-post","status-publish","format-standard","hentry","category-news","tag-fitx","tag-grnh","tag-phot","tag-rfmk"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3576"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3576\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}