{"id":4340,"date":"2014-04-09T14:11:51","date_gmt":"2014-04-09T14:11:51","guid":{"rendered":"\/?p=4340"},"modified":"2014-04-09T14:11:52","modified_gmt":"2014-04-09T14:11:52","slug":"mcig-inc-otcbbmcig-turning-the-tide","status":"publish","type":"post","link":"\/articles\/mcig-inc-otcbbmcig-turning-the-tide\/","title":{"rendered":"mCig, Inc. (OTCBB:MCIG) Turning The Tide"},"content":{"rendered":"\n

mCig, Inc. (OTCBB:MCIG<\/a>) has had a bad run since last Wednesday. The four sessions in the red after its last spike cost it nearly 25% of its market value, leaving it bruised and beaten at $0.599. That all changed yesterday, when the ticker shot up 18.53% on a $6.6 million volume.<\/p>\n

The road for MCIG<\/a>‘s recovery was paved by the April 7 report the CNBC did on the company’s product. Optimistic and favorable, the news coverage did a lot to decrease the company’s downward momentum. However, this particular piece of news wasn’t what stopped MCIG<\/a>‘s descent to the bottom of the charts. <\/p>\n

MCIG<\/a> was launched up by an announcement that hit the web before yesterday’s trading session began. In a press release, the company declared that, during the previous work day, it had beaten its record for daily revenues, selling products worth a total of $28,400.<\/p>\n

Although the number doesn’t seem all that impressive, this is no mean feat for the standards of most penny stock companies currently on the marijuana market. For comparison – in its latest 10-Q MCIG<\/a> declared that it had $85 thousand revenues during the three months ended Jan 24, 2014. Once this is taken into account, it becomes obvious why the news that the company has made more than a third of its quarterly revenues in a single day of sales can be seen as a cause for optimism among MCIG<\/a> supporters. If the announcement turns out to be truthful and accurate, and not just another publicity stunt aimed at pushing the ticker upwards, it may prove to be a harbinger of MCIG<\/a>‘s change for the better.<\/p>\n

MCIG<\/a> isn’t in the habit of delaying its filings, no matter how unimpressive they are, which seems to be a common practice among marijuana stocks these days. This has also been pointed out as a reason for investor trust in the company. Many of the more “prominent” companies on the current marijuana market, such as Creative Edge Nutrition Inc. (OTCMKTS:FITX<\/a>) and HEMP<\/a>, INC. (OTCMKTS:HEMP<\/a>) can’t make that claim.<\/p>\n

Still, investors should consider the fact that MCIG<\/a> currently has a market cap of $191.8 million, while its current assets two months ago amounted to a number approximately 2100 times lower than that. That being the case, it’s no wonder that MCIG<\/a> has been called “overhyped” and “overvalued”, just like the majority of the other pot-stocks. Potential investors should take these facts into account and act accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"

mCig, Inc. (OTCBB:MCIG) has had a bad run since last Wednesday. The four sessions in the red after its last spike cost it nearly 25% of its market value, leaving it bruised and beaten...<\/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":[10,228,1179],"class_list":["post-4340","post","type-post","status-publish","format-standard","hentry","category-news","tag-fitx","tag-hemp","tag-mcig"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4340","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=4340"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4340\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}