{"id":4454,"date":"2014-04-24T15:11:56","date_gmt":"2014-04-24T15:11:56","guid":{"rendered":"\/?p=4454"},"modified":"2014-04-24T15:12:04","modified_gmt":"2014-04-24T15:12:04","slug":"mcig-inc-otcbbmcig-takes-a-step-back","status":"publish","type":"post","link":"\/articles\/mcig-inc-otcbbmcig-takes-a-step-back\/","title":{"rendered":"mCig, Inc. (OTCBB:MCIG) Takes a Step Back"},"content":{"rendered":"

\"mcig_chart.png\"Since mCig, Inc. (OTCBB:MCIG<\/a>) rose at the end of February, the stock has been on a roller coaster ride. It’s still way above the levels occupied before the surge, but for how long? Yesterday MCIG<\/a> registered another red session and continued the cycle of rising, then sliding. Still, it lost only 7% – by no means a large drop – closing at $0.565, with a dollar volume of $1.15 million.  <\/p>\n

Yet this exact same thing has happened no less than four times over the last thirty days, which raises questions around MCIG<\/a>‘s direction, as the ticker has gone a little bit lower each time. At its highest points on the charts recently, April 8 and 9, MCIG<\/a>‘s share price was primarily affected by three factors. <\/div>\n
The first of those comprised of two press releases, claiming that they broke on April 7, then re-broke on April 8, their 24-hour sales record, first generating $28,400, then $45,800. The latter figure is, reportedly, “an increase of 1,200% over the previous quarter sales per inventory day.” This is an impressive achievement especially considering that the revenue came from mCig.org only. Whether the company can sustain the growth is a different matter though.<\/div>\n
The second thing was an announcement on April 9 that the company had obtained a CE Mark (a regulatory clearance) for its mCig 2.0 device. This will now allow MCIG<\/a> to distribute and market the device in the European Union, but investors should be aware that such a prospect might be a long ways off. <\/div>\n
The other significant thing that affected the performance was a free pump email from Pennybusters. Unfortunately, as it almost always happens after such an email, the stock rises and then slips.<\/div>\n
   <\/p>\n

All this, despite the fact that there’s plenty of positive news and MCIG<\/a> has a financial report that, unlike many other OTC companies, is unburdened by debts and net losses:<\/p>\n