{"id":4154,"date":"2014-03-19T14:13:20","date_gmt":"2014-03-19T14:13:20","guid":{"rendered":"\/?p=4154"},"modified":"2014-03-19T14:13:25","modified_gmt":"2014-03-19T14:13:25","slug":"minerco-resources-inc-otcmktsmine-slows-its-roll","status":"publish","type":"post","link":"\/articles\/minerco-resources-inc-otcmktsmine-slows-its-roll\/","title":{"rendered":"Minerco Resources, Inc. (OTCMKTS:MINE) Slows Its Roll"},"content":{"rendered":"

\"4MINE_chart.png\"The explosive Monday run of Minerco Resoursec, Inc. (OTCMKTS:MINE<\/a>) that propelled the share price 92% up slowed down significantly in yesterday’s session. The ticker sailed another 17% in the green but intra-day swings were quite wild. Volume increased even further, clocking at 436 million shares changing hands. <\/p>\n

In our previous article on MINE<\/a> we examined the peculiar timing of the jump and the fact that the company still has to show a single dollar of revenues generated by its product lines of energy drinks. Even though the last available quarterly covers a period in which the drinks should have been on sale in multiple stores for at least a month, the report itself listed no revenues.<\/p>\n

Instead of its due quarterly for the period ended Jan 31, 2014, this Monday MINE<\/a> published a notification of late filing, extending the deadline for the report with another 15 calendar days. This sort of development, happening exactly at a point when the company was accumulating volume and picking up in price, raises a couple of extra red flags. If the revenue figures in the due report are found lacking or are missing altogether, MINE<\/a> may find itself on the fast track to double-zero land once again.<\/p>\n

\"5MINE_logo.jpg\"Over yesterday’s session the stock’s RSI indicator broke above 90. The exact same thing happened to TerraTech Corp. (OTCMKTS:TRTC) a few days ago and just like MINE<\/a>, TRTC displayed heavy intraday volatility over the session that preceded a drop. Yesterday MINE<\/a> traded with a gap of nearly 50% of its opening price between the high and low price for the session.<\/p>\n

Minecro was one of the few non-pot tickers that managed to squeeze into the top 10 most heavily trade OTC stocks for the last session. Among the biggest movers were Growlife, Inc. (OTCBB:PHOT<\/a>), who reversed and dropped nearly 12%. Conversely, mCig, Inc. (OTCBB:MCIG<\/a>) picked up the pace and closed 17% up yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The explosive Monday run of Minerco Resoursec, Inc. (OTCMKTS:MINE) that propelled the share price 92% up slowed down significantly in yesterday’s session. The ticker sailed another 17% in the green but intra-day swings were...<\/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":[1179,185,21],"class_list":["post-4154","post","type-post","status-publish","format-standard","hentry","category-news","tag-mcig","tag-mine","tag-phot"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4154","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=4154"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4154\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}