{"id":4285,"date":"2014-04-03T11:14:21","date_gmt":"2014-04-03T11:14:21","guid":{"rendered":"\/?p=4285"},"modified":"2014-04-03T11:14:55","modified_gmt":"2014-04-03T11:14:55","slug":"puget-technologies-inc-otcbbpuge-turns-green","status":"publish","type":"post","link":"\/articles\/puget-technologies-inc-otcbbpuge-turns-green\/","title":{"rendered":"Puget Technologies, Inc. (OTCBB:PUGE) Turns Green"},"content":{"rendered":"

\"8PUGE_chart.png\"After a prolonged red streak that pulled the share price of Puget Technologies, Inc. (OTCBB:PUGE<\/a>) over 30% down the charts, the ticker bounced back yesterday and closed precisely 30% up. The movement was triggered by a press release issued by the company. <\/p>\n

PUGE<\/a> announced that it was anticipating the arrival of the first shipment of 3D printers. The units are expected to arrive roughly 45 days down the line. 3D printing is a hot sector in its own right and this announcement could have triggered a wave of buying, even though the climb and volume spike came in the late afternoon, well after the release was made public.<\/p>\n

What may be more curious about PUGE<\/a> is the company’s last six months. Back in the autumn of 2013 PUGE<\/a> was a marijuana sector player, aiming to offer “innovative solutions” using cannabinoids. Another subsidiary of the company was focused on herb-infused drinks. Once again, back in October 2013, PUGE<\/a> was also pumped by a number of paid promoters. The pumping led to a nasty crash, then the company’s pump track record and uninspiring balance sheet pushed it further down the charts.<\/p>\n

In late December, completely out of the blue, the former medical marijuana company stated it formed a new 3D printing subsidiary. All PR coming from PUGE<\/a> ever since has been focused solely on its plans for a bright future in 3D printing.<\/p>\n

\"2PUGE_logo.png\" <\/p>\n

Making the jump from a hopeful pot stock to a 3D tech company overnight is just as implausible as it was ill-timed, as marijuana stocks went through the roof days after PUGE<\/a> switched its focus. The company is now expecting its first shipment of the IdeaWerk 3D printer – a home enthusiast device with a 15x15x14 cm working area that uses polylactic acid or PLA, manufactured by Chinese company Shenzhen Weistek. Weistek USA, a PUGE<\/a> subsidiary, will sell the product on the American market. <\/p>\n

PUGE<\/a> posted a new report since we last covered the company and the figures in that one are not much better:<\/p>\n